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.”
Why Thanksgiving Is the One American Holiday the Left Can’t Stand
Days Before National Guardsmen Shot, Dem Senator Said Troops Deployed in Cities May Soon Fire on Civilians
Who is the DC National Guardsmen shooting suspect? What to know about Afghan national Rahmanullah Lakanwal
Trump admin set to let protected status for 350,000 Haitian migrants expire in February
Parents Sue District After School Forced Daughter to Share Bed with ‘Trans’ Male Student on Trip
How the White House turkey pardon became an American tradition
California Democrats push pet projects despite $12 billion deficit blamed on Trump
Fox News ‘Antisemitism Exposed’ Newsletter: IDF finds huge Hamas terror tunnel under UN compound
Erika Kirk Signals Turning Point USA Is Prepared to Fully Support Vance in 2028
Congress investigates betting scandals rocking NBA and Major League Baseball following federal charges
Bodycam shows Charlotte train murder suspect’s interaction with police months before Iryna Zarutska stabbing
Louisiana death row inmate freed after nearly 30 years as overturned conviction upends case
Alleged National Guard shooter worked with US government entities in Afghanistan, including CIA: Ratcliffe
Alleged DC shooter entered US under Afghan resettlement push Mayorkas vowed would be done ‘swiftly and safely’
Trump pins DC National Guard shooting on Biden’s post-Afghanistan immigration policy
“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
Why Thanksgiving Is the One American Holiday the Left Can’t Stand
Days Before National Guardsmen Shot, Dem Senator Said Troops Deployed in Cities May Soon Fire on Civilians
Who is the DC National Guardsmen shooting suspect? What to know about Afghan national Rahmanullah Lakanwal
Trump admin set to let protected status for 350,000 Haitian migrants expire in February
Parents Sue District After School Forced Daughter to Share Bed with ‘Trans’ Male Student on Trip
How the White House turkey pardon became an American tradition
California Democrats push pet projects despite $12 billion deficit blamed on Trump
Fox News ‘Antisemitism Exposed’ Newsletter: IDF finds huge Hamas terror tunnel under UN compound
Erika Kirk Signals Turning Point USA Is Prepared to Fully Support Vance in 2028
Congress investigates betting scandals rocking NBA and Major League Baseball following federal charges
Bodycam shows Charlotte train murder suspect’s interaction with police months before Iryna Zarutska stabbing
Louisiana death row inmate freed after nearly 30 years as overturned conviction upends case
Alleged National Guard shooter worked with US government entities in Afghanistan, including CIA: Ratcliffe
Alleged DC shooter entered US under Afghan resettlement push Mayorkas vowed would be done ‘swiftly and safely’
Trump pins DC National Guard shooting on Biden’s post-Afghanistan immigration policy
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.
