President Donald Trump announced plans to end trade preferences for India and Turkey, beginning a 60-day countdown to the potential termination of designations that allow duty-free entry of wide-ranging products from those countries.
India failed to assure Washington of “equitable and reasonable” market access, while Turkey was deemed to have a sufficiently developed economy to no longer need the designation.
The move comes just weeks before India’s national elections and may increase opposition attacks on Prime Minister Narendra Modi’s foreign policy track record.
Two separate reports published over the weekend found that the cost of Trump’s trade policies ran into the billions of dollars and are being largely borne by American consumers.
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