President Trump effectively terminated India’s preferential trade status under the c (GSP) via proclamation Friday.
The decision removes India’s status as a beneficiary developing country, effective Wednesday.
“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump stated. “Accordingly, it is appropriate to terminate India’s designation as a beneficiary developing country effective June 5, 2019.”
The Trump administration has said concerns over market access for U.S. goods being exported to India led them to withdraw the benefits, which prohibited duties on about $5.7 billion in imports in 2017, according to the Congressional Research Service.
India’s government responded in a statement, noting its desire to “find a mutually acceptable way forward.” It ultimately described Trump’s decision as “unfortunate.”
So-Called Moderate Governor Candidate Wants More Trans Books in Elementary Schools
Leading Democrat Official Resigns After Probe Uncovers Sexual Harassment of Young Female Staffer
How Ukraine’s 40-day summer drone campaign to end the war with Russia backfired
Trump stumps for Protect College Sports Act at Texas-Tennessee game: ‘Bipartisanship for the first time in a while’
Applause Erupts as Crowd of Over 100,000 Sees Trump on the Jumbotron at Major SEC Showdown
They Told Us Trans People Are Dying Everywhere – Turns Out the Few Deaths That There Are Decreased Under Trump
Georgia man, 18, charged with murder after dismembered human remains found in car trunk
Trump claims stunning casualty numbers in Russia-Ukraine war
Trump’s home county hits pause on data centers over environment and electric bill concerns
Cruz says winning AI race against China is ‘single most important economic question’ for America
US, China strike deal to lower tariffs on $30B in goods after Trump-Xi Washington summit
Idaho Prop 1 Isn’t ‘Reproductive Freedom’: It’s a Vote to Kill More Babies
Incoming Democrat Rep. for NYC Arrested for Refusing to Obey Police Orders, Attempting to Get Netanyahu Arrested
Mamdani Celebrates ‘Closing’ the Budget: All He Did Was Move Some Numbers Around, and Constituents Are Still Packing for Florida
Watch: Even Murder Victim’s Family Almost Laughs as Court Plays ‘American Idol’ Killer Suspect’s Terrible Love Songs for Mistress
“India as part of our bilateral trade discussions, had offered resolution on significant US requests in an effort to find a mutually acceptable way forward. It is unfortunate that this did not find acceptance by the US,” India’s government stated.
“India, like the US and other nations shall always uphold its national interest in these matters,” the statement continued. “We have significant development imperatives and concerns and our people also aspire for better standards of living. This will remain the guiding factor in the Government’s approach.”
Commerce Ministry issues a statement over designation of India as a beneficiary developing country being terminated by the US. "India had offered resolution on significant US requests to find a mutually acceptable way forward. Unfortunate that this didn't find acceptance by US." pic.twitter.com/sb0nejwcsp
— ANI (@ANI) June 1, 2019
So-Called Moderate Governor Candidate Wants More Trans Books in Elementary Schools
Leading Democrat Official Resigns After Probe Uncovers Sexual Harassment of Young Female Staffer
How Ukraine’s 40-day summer drone campaign to end the war with Russia backfired
Trump stumps for Protect College Sports Act at Texas-Tennessee game: ‘Bipartisanship for the first time in a while’
Applause Erupts as Crowd of Over 100,000 Sees Trump on the Jumbotron at Major SEC Showdown
They Told Us Trans People Are Dying Everywhere – Turns Out the Few Deaths That There Are Decreased Under Trump
Georgia man, 18, charged with murder after dismembered human remains found in car trunk
Trump claims stunning casualty numbers in Russia-Ukraine war
Trump’s home county hits pause on data centers over environment and electric bill concerns
Cruz says winning AI race against China is ‘single most important economic question’ for America
US, China strike deal to lower tariffs on $30B in goods after Trump-Xi Washington summit
Idaho Prop 1 Isn’t ‘Reproductive Freedom’: It’s a Vote to Kill More Babies
Incoming Democrat Rep. for NYC Arrested for Refusing to Obey Police Orders, Attempting to Get Netanyahu Arrested
Mamdani Celebrates ‘Closing’ the Budget: All He Did Was Move Some Numbers Around, and Constituents Are Still Packing for Florida
Watch: Even Murder Victim’s Family Almost Laughs as Court Plays ‘American Idol’ Killer Suspect’s Terrible Love Songs for Mistress
India’s lawmakers have been warning of crushing economic times. Trump’s move serves as yet another blow.
Bloomberg added:
Indian lawmakers warned of a potential economic crisis. Trump’s decision was a “double whammy” after the nation “succumbed to U.S. pressure” by not buying crude oil from Iran on favorable terms, Randeep Surjewala, chief spokesman of the National Congress Party, said Saturday, according to the Economic Times.
“We urge Prime Minister Narendra Modi to make a comprehensive statement on the issue to the nation and place before the public a way forward to overcome this grave trade and economic crisis,” Surjewala told reporters.
Story cited here.
