India, March 15 -- Commentators in the United States and India are beginning to call the current trade standoff between the two countries a full-blown trade war. "It's official: India is Trump's next target in the trade wars," the Washington Post recently declared.

What prompted the Post and other newspapers and analysts to come to that conclusion was the US announcement that it will end preferential trade treatment for thousands of Indian products guaranteed under the Generalised System of Preferences (GSP), a trade programme that has been in existence for more than 43 years now. The idea behind the US GSP is to promote trade with more than a hundred developing countries by giving duty-free entry for their goods. India is the largest be...