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U.S. drops duty-free gold jewelry from India, Thailand |
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July 3, 2007 By News Desk The Bush Administration has decided to drop its General System of Preferences (GSP), revoking duty-free status for gold jewelry imported from India and Thailand, miniweb reports .
India shipped $2.21 billion in gold jewelry under the GSP program last year while Thailand shipped $700.36 million under GSP, representing 33.2% and 10.5% respectively of total U.S. gold jewelry imports, according to India's Gem & Jewellery Export Promotion Council.
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