Xinhua, Washington :
US President Barack Obama Wednesday notified the Congress of his plan to drop Russia from a program that allows duty-free imports of certain goods, known as the Generalized System of Preferences (GSP), the White House said.
In a message to the Congress, Obama said it is “appropriate to withdraw Russia’s designation as a beneficiary developing country under the GSP program because Russia is “sufficiently advanced” in economic development and improved in trade competitiveness that continued preferential treatment under the GSP is “not warranted.”
