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.”
Dems derided Trump’s midterm gamble — until he ended up winning big
Mail-voting crackdown moves ahead as Trump court win opens door to federal action
Norway’s King Harald dies peacefully at 89, son Crown Prince Haakon to succeed him
New Hampshire man allegedly steals rescue truck from firefighters battling his burning home
Federal judge again blocks Trump’s mail ballot order just before midterms
California authorities identify final unknown victim of ‘Happy Face Killer’ Keith Jesperson after 34 years
New York Gov Hochul rejects Trump’s ‘Lake America’ renaming with blunt message
Maine meteorologist suffers giggle attack on live TV after prank backfires spectacularly
Defense Claims Lindsay Clancy ‘Never Did Anything Wrong in Her Life’ in Closing Argument
Report: Trump Admin Nearing ‘Massive’ Venezuelan Oil Deal
RNC threatens legal action against New Jersey officials over noncitizens on voter rolls: ‘On notice’
Social media erupts after cops reportedly raid home of Ilhan Omar’s son: ‘Not a good look’
Gov Shapiro sues Trump administration over ‘lifesaving reproductive care’ in escalating abortion battle
Watch: Hegseth Rights Another Biden Wrong – Upgrades Abbey Gate Heroes’ Awards After Previous Admin Wrongly Downgraded Them
DHS hits back at James Talarico after Democrat claims ICE ‘kidnapped’ 5-year-old boy deported with father
“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
Dems derided Trump’s midterm gamble — until he ended up winning big
Mail-voting crackdown moves ahead as Trump court win opens door to federal action
Norway’s King Harald dies peacefully at 89, son Crown Prince Haakon to succeed him
New Hampshire man allegedly steals rescue truck from firefighters battling his burning home
Federal judge again blocks Trump’s mail ballot order just before midterms
California authorities identify final unknown victim of ‘Happy Face Killer’ Keith Jesperson after 34 years
New York Gov Hochul rejects Trump’s ‘Lake America’ renaming with blunt message
Maine meteorologist suffers giggle attack on live TV after prank backfires spectacularly
Defense Claims Lindsay Clancy ‘Never Did Anything Wrong in Her Life’ in Closing Argument
Report: Trump Admin Nearing ‘Massive’ Venezuelan Oil Deal
RNC threatens legal action against New Jersey officials over noncitizens on voter rolls: ‘On notice’
Social media erupts after cops reportedly raid home of Ilhan Omar’s son: ‘Not a good look’
Gov Shapiro sues Trump administration over ‘lifesaving reproductive care’ in escalating abortion battle
Watch: Hegseth Rights Another Biden Wrong – Upgrades Abbey Gate Heroes’ Awards After Previous Admin Wrongly Downgraded Them
DHS hits back at James Talarico after Democrat claims ICE ‘kidnapped’ 5-year-old boy deported with father
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.
