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.”
Watch: Emotional Kurt Busch Reveals His Final Words with His Brother Kyle
Karmelo Anthony’s Legal Team Smears Austin Metcalf in Desperate Attempt to Overturn Conviction
WATCH: Father of three outraged over advice his family received amid trans teacher fight
Dem Senate hopeful racked up hundreds of missed votes during stops at multiple taxpayer serving jobs
New York Times Ordered to Pay College Basketball Player $9.25 Million for Defamation
College Costs Surge 10% Higher Than Last Year, New Report Shows
A Bayh-gone era for Indiana Democrats?
Scharf edge for the Trump administration
Skip the summer’s woke dinosaur movie, ‘The End of Oak Street’
Senator launches assault on illegal immigration gaps as GOP races midterm clock to lock in key wins
EXCLUSIVE: 5-time illegal entrant admits ‘mistake’ that finally got him busted by ICE
Missing New York grandmother found dead near Las Vegas airport after mysterious Bitcoin texts
Trump to honor Artemis II astronauts who traveled farther from Earth than any humans in history
Trump fires back after protester interrupts Myrtle Beach rally for Graham: ‘Mom is voting for us’
More Westerners Waking up to Islam as Gov’t Bans Face Coverings, Leaving Both Muslims and (Ironically) Feminists Angry
“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
Watch: Emotional Kurt Busch Reveals His Final Words with His Brother Kyle
Karmelo Anthony’s Legal Team Smears Austin Metcalf in Desperate Attempt to Overturn Conviction
WATCH: Father of three outraged over advice his family received amid trans teacher fight
Dem Senate hopeful racked up hundreds of missed votes during stops at multiple taxpayer serving jobs
New York Times Ordered to Pay College Basketball Player $9.25 Million for Defamation
College Costs Surge 10% Higher Than Last Year, New Report Shows
A Bayh-gone era for Indiana Democrats?
Scharf edge for the Trump administration
Skip the summer’s woke dinosaur movie, ‘The End of Oak Street’
Senator launches assault on illegal immigration gaps as GOP races midterm clock to lock in key wins
EXCLUSIVE: 5-time illegal entrant admits ‘mistake’ that finally got him busted by ICE
Missing New York grandmother found dead near Las Vegas airport after mysterious Bitcoin texts
Trump to honor Artemis II astronauts who traveled farther from Earth than any humans in history
Trump fires back after protester interrupts Myrtle Beach rally for Graham: ‘Mom is voting for us’
More Westerners Waking up to Islam as Gov’t Bans Face Coverings, Leaving Both Muslims and (Ironically) Feminists Angry
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.









