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            august 22, 2019

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Turkey loses GSP status


US President Donald Trump issued proclamations to end Turkey's status as a beneficiary of the Generalised System of Preferences (GSP) and cut tariffs on steel from that country in half.
The move follows the announced by the Trump administration in March that it planned to remove Turkey and India from the GSP, noting that Turkey is sufficiently economically developed and requires no preferential market access to the US market. GSP benefits are reserved for developing and less-developed countries.
The office of the US Trade Representative (USTR) had said in March that it planned to revoke India's GSP benefits because of significant trade barriers imposed by the country.
But unlike Turkey, the Trump administration has not issued a proclamation revoking India's GSP benefits.

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