Trump administer announced that it would no longer allow India to have special trade status.
According to reports, The White House will cut off the special treatment of India, which is currently exempt from billions in tariffs, on June 5.
The notice of the change asserted that India did not allow the U.S. “equitable and reasonable access to its markets.”
The administration will also tax Indian solar panels and washers, India’s Ministry of Commerce and Industry called the development “unfortunate,” saying that the country tried to offer the U.S. ways to move forward.
“India as part of our bilateral trade discussions, had offered resolution on significant US requests in an effort to find a mutually acceptable way forward,” it said. “It is unfortunate that this did not find acceptance by the US.”
This was ongoing situation from a time, U.S. and India have been in disagreement over trade for months, particularly over Indian protectionism and U.S. attempts to prevent the country from buying Iranian oil.
Both Presidents appears to share quite good relationship overall, but this trade war has ended for now.
