DAILY NEWS ANALYSIS
14 February, 2020
4 Min Read
Syllabus subtopic: Effect of Policies and Politics of Developed and Developing Countries on India’s interests, Indian Diaspora.
Prelims and Mains focus: about the USTR move: criteria and its implications; about CVD and de minimis standard
News: The U.S. government has changed an administrative rule making it easier for it to impose countervailing duties (CVDs) on goods from India and certain other countries.
What are countervailing duties (CVD)?
About the USTR move
The Office of the United States Trade Representative (USTR) has published a notice, amending lists of developing and least-developed countries that are eligible for preferential treatment with respect to CVD investigations.
What does that mean?
(Ad valorem tax means levying of tax or customs duties proportionate to the estimated value of the goods or transaction concerned.)
Eligibility Criteria for the de minimis standard
The USTR used the following criteria to determine whether a country was eligible for the 2% de minimis standard:
Why was India taken off the list?
The move has cast a shadow on India being able to restore preferential benefits under the Generalised System of Preference (GSP) as part of its trade talks with the US, as only developing countries are eligible for it.
Mr Trump is due to visit India on February 24 and 25 and the U.S. and India are trying to finalise a trade package before the U.S. President’s arrival. According to American officials, the timing of the USTR announcement is not linked to the visit, that is, the timing is mostly coincidental and mostly related to dynamics at the WTO on developing country treatment.
Source: The Hindu
E-pharmacies The Ministry of Health sent "show cause" letters to at least 20 businesses in February 2023 for online drug sales, including Tata-1mg, Flipkart, Apollo, PharmEasy, Amazon, and Reliance Netmeds. What is e-pharmacy? E-pharmacy refers to the purchasing and selling of drugs and other pharmaceutical products through a
Punchhi Commission Report The Punchhi Commission's report on relations between the federal government and its constituent states will now be reviewed for state responses, according to the Union Ministry of Home Affairs (MHA). Historical Background: A Commission on Centre-State Relations was established by the Indian government,
Indo-German Relations Olaf Scholz, the Chancellor of Germany, recently paid a bilateral visit to India. It is Scholz's first trip to India after taking office as German Chancellor in December 2021, ending Angela Merkel's illustrious 16-year reign. About the news: The visit of the German chancellor is significant because i
India Denmark Cooperation During the "India-Denmark: Partners for Green and Sustainable Development Conference" in New Delhi, the Union Minister for Environment, Forests, and Climate Change said that India and Denmark can work together to show that reaching ambitious climate and sustainable energy targets is possible. Since the Gr
Mob lynching and Cow Vigilantism The recent lynching and burning of two men in Haryana on the basis of allegations of unlawful cow slaughter, smuggling, or transportation bring attention to the problem of mob lynching. About cow vigilantism: Mob attacks carried out in the guise of "cow protection" primarily target Mus
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.