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.”
University president sounds alarm as nearly half of students justify violence to stop ‘hate speech’
Florida puts 77-year-old man to death for deputy’s murder as state closes in on execution record
Pennsylvania Welfare Supervisor Accused of Stealing Thousands in Food Stamps, Trading Them for Crack Cocaine
Trump Announces New Fraud Bounty Program, Nick Shirley First to Cash In
U2 Singer Bono Attacks Christians and Jews Who Support Ending Government Waste, Shuttering USAID
Husband of Democratic Party Chair Charged with Stealing $20 Million from Federal Education Grants
Honduran illegal immigrant charged with assaulting ICE officers with hammer during New Jersey traffic stop
Watch: Abdul El-Sayed Has His Hillary Clinton ‘Hot Sauce in Purse’ Moment in Cringey, Pandering Interview
Democrats Plotting to Use Bitter Ex-Girlfriend to Take Down Elon Musk
Judge Trump called a ‘lunatic’ abruptly backs off demand after showdown with DOJ No. 3
Trump says Ilhan Omar could go to jail or be deported, calls her ‘a disgrace to our country’
Philadelphia DA Larry Krasner’s office faces subpoenas after judicial referral
Declassified Docs Show State Dept.’s Testimony During 2019 Trump Impeachment Was Radically Different from Reality
Reporter’s Notebook: A Democratic majority could expose the limits of the progressive agenda
Ilhan Omar’s daughters show up at scene of DC raid as rumors swirl about embattled rep’s whereabouts
“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
University president sounds alarm as nearly half of students justify violence to stop ‘hate speech’
Florida puts 77-year-old man to death for deputy’s murder as state closes in on execution record
Pennsylvania Welfare Supervisor Accused of Stealing Thousands in Food Stamps, Trading Them for Crack Cocaine
Trump Announces New Fraud Bounty Program, Nick Shirley First to Cash In
U2 Singer Bono Attacks Christians and Jews Who Support Ending Government Waste, Shuttering USAID
Husband of Democratic Party Chair Charged with Stealing $20 Million from Federal Education Grants
Honduran illegal immigrant charged with assaulting ICE officers with hammer during New Jersey traffic stop
Watch: Abdul El-Sayed Has His Hillary Clinton ‘Hot Sauce in Purse’ Moment in Cringey, Pandering Interview
Democrats Plotting to Use Bitter Ex-Girlfriend to Take Down Elon Musk
Judge Trump called a ‘lunatic’ abruptly backs off demand after showdown with DOJ No. 3
Trump says Ilhan Omar could go to jail or be deported, calls her ‘a disgrace to our country’
Philadelphia DA Larry Krasner’s office faces subpoenas after judicial referral
Declassified Docs Show State Dept.’s Testimony During 2019 Trump Impeachment Was Radically Different from Reality
Reporter’s Notebook: A Democratic majority could expose the limits of the progressive agenda
Ilhan Omar’s daughters show up at scene of DC raid as rumors swirl about embattled rep’s whereabouts
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.
