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.”
Rand Paul seeks contempt charges after Fauci invokes Fifth Amendment more than 70 times
Red state governor pummeled online after defying Trump’s deportation orders
Fact Check: No, Trump Did Not Wire Money to Epstein 4,700 Times
Watch: Fauci’s Attorney Ejected from Senate Hearing for ‘Disrupting Proceedings’
Close call at Atlanta airport forces Delta anti-collision alarms to sound
Fauci repeatedly pleads Fifth in fiery showdown with Rand Paul
Dispatch audio released in Michigan family murder-suicide as troubled family’s secrets emerge
WATCH: Battleground Democrat called Iowa a ‘backwater’ over transgender athletes ban
Iran Releases Sick Video Showing Terrorists How to Target Melania, Suggests Neuro Toxin Strategy, Then Takes Aim at Barron
The Electoral College Must Be Protected: Here’s Why
‘Tip of the iceberg’: NJ illegal voting scandal explodes with more key systems at risk
Coercion Is the Abortion Debate We Aren’t Having
DOJ can’t release Biden tapes while hiding Jack Smith report, watchdog says
Scientists who nominated Fauci for prize money received millions in NIAID funding
No Jews on Mamdani’s ‘truly representative’ NYC judiciary panel, sparking backlash
“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
Rand Paul seeks contempt charges after Fauci invokes Fifth Amendment more than 70 times
Red state governor pummeled online after defying Trump’s deportation orders
Fact Check: No, Trump Did Not Wire Money to Epstein 4,700 Times
Watch: Fauci’s Attorney Ejected from Senate Hearing for ‘Disrupting Proceedings’
Close call at Atlanta airport forces Delta anti-collision alarms to sound
Fauci repeatedly pleads Fifth in fiery showdown with Rand Paul
Dispatch audio released in Michigan family murder-suicide as troubled family’s secrets emerge
WATCH: Battleground Democrat called Iowa a ‘backwater’ over transgender athletes ban
Iran Releases Sick Video Showing Terrorists How to Target Melania, Suggests Neuro Toxin Strategy, Then Takes Aim at Barron
The Electoral College Must Be Protected: Here’s Why
‘Tip of the iceberg’: NJ illegal voting scandal explodes with more key systems at risk
Coercion Is the Abortion Debate We Aren’t Having
DOJ can’t release Biden tapes while hiding Jack Smith report, watchdog says
Scientists who nominated Fauci for prize money received millions in NIAID funding
No Jews on Mamdani’s ‘truly representative’ NYC judiciary panel, sparking backlash
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.
