tion:On February 10, the U.S. removed more than a dozen countries, including India, from its list of countries that are classified as “developing” for trade purposes. These countries will now be classified instead as “developed” economies, thus stripping them of various trade benefits. The MOVE, which comes just ahead of U.S. PRESIDENT Donald Trump’s visit to India later this month, has led to doubts over the chances of a trade deal being signed between India and the United States.What is the “developing country” status?The OFFICE of the United States Trade Representative (USTR) maintains a list of countries that it classifies as “developing”, “developed”, and “least-developed”. Countries that are classified as “developing” are allowed to export certain goods to the U.S. without being hit by punitive tariffs that are usually imposed on goods from “developed” countries. The “developing country” status owes its origin to the U.S. Trade Act of 1974, which authorised the Generalized System of Preferences (GSP) to help poor countries develop faster. These benefits were extended further under the World Trade Organization wherein rich countries agreed to grant trade benefits to countries that classified themselves as poor. It is worth noting that about two-thirds of countries that are members of the WTO classify themselves as “developing” countries and avail benefits.pls pls mark as BRAINLIEST pls pls pls pls follow me I will follow u back pls