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.”
Trump adds his birthday as free national park day while axing MLK Day and Juneteenth
In Texas cattle country, one rancher welcomes Trump’s focus on decades of thin margins
MTG says she was denied security detail despite 773 death threats
A Detailed Account of the Nightmarish National Guard Shooting: Court Docs
Pearl Harbor remembrance ceremony marks 84 years since attack
Under the New ‘Trump Accounts,’ Your Baby Could Qualify for $1K: Here’s What to Know
Hamline University student brags on video that he celebrated Charlie Kirk’s assassination
Newsom team torched for image posted in response to mocking of gov’s ‘testicle-crushing’ sitting pose
Democrats escalate war-crime accusations as White House calls ‘innocent fisherman’ the new ‘Maryland Man’ hoax
First-Graders Leap Into Action and Save Their Teacher from Choking in Virginia Classroom
GOP Rep Goes Nuclear After Democrat Cuts Him Off Mid-Sentence: ‘You Were That Rude’
Widespread Obamacare Fraud: Phony SSNs Had a 100% Success Rate for Getting Coverage, Investigation Finds
How Is This Not Racist? Ex-MSNBC Host Trashes Minorities for Working with ICE to Catch Criminals
Florida teens in custody after 14-year-old girl found shot to death, burnt: sheriff
Alaska school district erases Veterans Day from official calendar: ‘Absolutely unacceptable’
“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
Trump adds his birthday as free national park day while axing MLK Day and Juneteenth
In Texas cattle country, one rancher welcomes Trump’s focus on decades of thin margins
MTG says she was denied security detail despite 773 death threats
A Detailed Account of the Nightmarish National Guard Shooting: Court Docs
Pearl Harbor remembrance ceremony marks 84 years since attack
Under the New ‘Trump Accounts,’ Your Baby Could Qualify for $1K: Here’s What to Know
Hamline University student brags on video that he celebrated Charlie Kirk’s assassination
Newsom team torched for image posted in response to mocking of gov’s ‘testicle-crushing’ sitting pose
Democrats escalate war-crime accusations as White House calls ‘innocent fisherman’ the new ‘Maryland Man’ hoax
First-Graders Leap Into Action and Save Their Teacher from Choking in Virginia Classroom
GOP Rep Goes Nuclear After Democrat Cuts Him Off Mid-Sentence: ‘You Were That Rude’
Widespread Obamacare Fraud: Phony SSNs Had a 100% Success Rate for Getting Coverage, Investigation Finds
How Is This Not Racist? Ex-MSNBC Host Trashes Minorities for Working with ICE to Catch Criminals
Florida teens in custody after 14-year-old girl found shot to death, burnt: sheriff
Alaska school district erases Veterans Day from official calendar: ‘Absolutely unacceptable’
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.
