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.”
BREAKING: Republican House Oversight Committee to Hold Bill Clinton in Contempt
Watch: Whoopi Goldberg Attempts to Walk Back Vicious Anti-ICE Comment After Thinking It Over During Commercial Break
Trump cheers steady inflation numbers as affordability fight shapes 2026 midterm battle
GOP unveils plan to cut deficit by $1 trillion with second ‘big, beautiful bill’
Byron Donalds took large donations from CCP-linked firm despite criticism of China
Trump cancels talks with Iran delegation as death toll from protests hits 2,000
BREAKING: Trump Steps Into Iran Crisis With Direct Message to Protesters: ‘Help is on the Way’
Breaking: Positive Inflation Report Delivers Economic Win for Trump
Federal agents deploy tear gas, rubber bullets on protesters outside Minneapolis federal building
House GOP leader blasts trans athletes in girls’ sports as ‘biggest form of bullying’
Florida sheriff Grady Judd fires off warning to gangsters after ‘Sex, Money, Murder’ kingpin taken down
Ex-state education official launches bid for Wyoming’s lone US House seat
Musk to Seek Full Custody After His Child’s Mother, a Former Conservative Influencer, Backs Gender Transition
Trump Announces His First Move After ‘Locked and Loaded’ Warning Against Iran
Elizabeth Warren says Trump called her after speech criticizing his record on costs
“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
BREAKING: Republican House Oversight Committee to Hold Bill Clinton in Contempt
Watch: Whoopi Goldberg Attempts to Walk Back Vicious Anti-ICE Comment After Thinking It Over During Commercial Break
Trump cheers steady inflation numbers as affordability fight shapes 2026 midterm battle
GOP unveils plan to cut deficit by $1 trillion with second ‘big, beautiful bill’
Byron Donalds took large donations from CCP-linked firm despite criticism of China
Trump cancels talks with Iran delegation as death toll from protests hits 2,000
BREAKING: Trump Steps Into Iran Crisis With Direct Message to Protesters: ‘Help is on the Way’
Breaking: Positive Inflation Report Delivers Economic Win for Trump
Federal agents deploy tear gas, rubber bullets on protesters outside Minneapolis federal building
House GOP leader blasts trans athletes in girls’ sports as ‘biggest form of bullying’
Florida sheriff Grady Judd fires off warning to gangsters after ‘Sex, Money, Murder’ kingpin taken down
Ex-state education official launches bid for Wyoming’s lone US House seat
Musk to Seek Full Custody After His Child’s Mother, a Former Conservative Influencer, Backs Gender Transition
Trump Announces His First Move After ‘Locked and Loaded’ Warning Against Iran
Elizabeth Warren says Trump called her after speech criticizing his record on costs
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.
