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.”
Texas A&M committee finds professor’s firing over transgender-related lesson unjustified
Man fatally shot, woman and children in critical condition after Arizona shootout
President says Chicagoans are ‘chanting bring in Trump’ after violent downtown riot leaves 8 shot, 1 dead
JFK’s granddaughter, Tatiana Schlossberg, reveals terminal cancer diagnosis in heartbreaking essay
Op-Ed: The Aftermath of No Kings and the Warning it Sends to Us All
Fact Check: Has the Coast Guard OK’d Swastikas, Other Hate Symbols Under Hegseth Changes?
Explosion rocks senior living apartment building in Ohio, multiple people injured
Trump Terminates Immigrant TPS Status in Minnesota to Destroy ‘Hub of… Money Laundering’ Under Governor Walz
‘Marjorie Traitor Brown’: Trump Responds to MTG’s Resignation
Israel launches attack in Gaza that Hamas says could mean ‘collapse’ of ceasefire
Chicago train fire attack shows why ‘decarceration’ policies are putting lives at risk: expert
Minneapolis police chief issues apology for linking Somali youth to local crime
Trans Activist Named Cassidy Mal Lyss (“Malice”) Arrested on 2nd Arson Charge – Previously Asked if He Could Begin Burning Churches
Reporter’s Notebook : A ‘Letter’ To Zelesnkyy Re The Peace Plan
FBI Gives Its Final Verdict on Trump Shooter Thomas Crooks
“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
Texas A&M committee finds professor’s firing over transgender-related lesson unjustified
Man fatally shot, woman and children in critical condition after Arizona shootout
President says Chicagoans are ‘chanting bring in Trump’ after violent downtown riot leaves 8 shot, 1 dead
JFK’s granddaughter, Tatiana Schlossberg, reveals terminal cancer diagnosis in heartbreaking essay
Op-Ed: The Aftermath of No Kings and the Warning it Sends to Us All
Fact Check: Has the Coast Guard OK’d Swastikas, Other Hate Symbols Under Hegseth Changes?
Explosion rocks senior living apartment building in Ohio, multiple people injured
Trump Terminates Immigrant TPS Status in Minnesota to Destroy ‘Hub of… Money Laundering’ Under Governor Walz
‘Marjorie Traitor Brown’: Trump Responds to MTG’s Resignation
Israel launches attack in Gaza that Hamas says could mean ‘collapse’ of ceasefire
Chicago train fire attack shows why ‘decarceration’ policies are putting lives at risk: expert
Minneapolis police chief issues apology for linking Somali youth to local crime
Trans Activist Named Cassidy Mal Lyss (“Malice”) Arrested on 2nd Arson Charge – Previously Asked if He Could Begin Burning Churches
Reporter’s Notebook : A ‘Letter’ To Zelesnkyy Re The Peace Plan
FBI Gives Its Final Verdict on Trump Shooter Thomas Crooks
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.
