The United States ended a trade deal with India on Wednesday, President Donald Trump announced on Friday. Under the relevant development program, India is now allowed to export thousands of types of goods to the United States without paying taxes.
According to Trump, the agreements with India are not fair, because this Asian country still creates trade barriers for American exports.
“I have found that India has not assured the United States that India will offer fair and reasonable access to its markets,” the president said in a statement.
In March Trump already announced its intention to end trade agreements with India. The export to the US that falls under the scheme has a value of 5.6 billion dollars. The Indian Ministry of Commerce previously stated that the decision would limit the damage, since the program “only” provides $ 190 million in benefits.