The notion that India should get the same consideration as a country like Cameroon is ridiculous, said a top US Senator.
A top US senator said that over the last two decades, countries like China and India got a lot richer, but they have refused to take on any more responsibilities. Speaking in a Congressional hearing on WTO, Senator Chuck Grassley, Chairman of the Senate Finance Committee added that India and China claim that they are entitled to special treatment in any future negotiations because they are developing countries. However, slamming the approach of these two countries, he said that the notion that China and India should get the same consideration as a country like Cameroon is ridiculous, according to the official statement of Chuck Grassley.
On the back of allegation made on India and China, the Senator applauded US President Donald Trump for taking steps against this imbalance and pushing to make the WTO relevant. Highlighting the role of the World Trade Organisation, Chuck said that when the WTO works right, Americans. He further said that the Americans are leaders in innovation and creativity and the WTO rules allow them to reap the rewards of that leadership. Citing an instance, he mentioned that when India refused to provide patent protection for American pharmaceutical and agricultural chemical products, they took them to the WTO and won.
The senator said that getting 164 countries to agree to a freer and fairer trading system is hard but embracing protectionism as the alternative can be extremely harmful in the long run. He further said that it has never been more important than it is today to ensure the WTO is equipped to take on the global challenges faced by various countries collectively today.
Meanwhile, President Trump had terminated India’s designation as a beneficiary developing nation under the key GSP trade programme after determining that India has not assured the US that it will provide equitable and reasonable access to its markets. However, recently a top Trump administration official said that the US is mulling over restoring India’s status under its GSP programme.