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.”
Sanders and Ocasio-Cortez to stump for Abdul el Sayed in Michigan Senate primary
Renowned Feminist Historian Loses Professorship as Experts Tear Apart Her So-Called Historical Findings
Trump Signals Daylight Savings Time May Soon Become Permanent, Praises Bill
Teen Athlete Goes Viral After Revealing She Was Sexually Harassed by Trans Athlete in Locker Room
Trump-aligned House holdouts accused of holding ‘life-saving’ veterans bill ‘hostage’ over SAVE America Act
CNN Needs Trauma Counselors – Paramount Looking to Actual Journalist Bari Weiss to Lead Both CNN and CBS News After Merger
Harvard astronomer tapped to lead White House UFO council says US government ‘baffled by what they are seeing’
House Democrat Ro Khanna says he was detained by armed Israeli settlers in West Bank
Trump-appointed judge permanently ends Proud Boys’ Jan 6 case, says Constitution left him no choice
Church in China Announces Massive Government Raid, Almost Three Dozen Christians Detained
Brazilian Couple Sentenced to Prison for Homeschooling Their Own Children
Europe’s demographic time bomb is killing its leaders’ popularity
WATCH: GOP senator warns ‘hammer-and-sickle’ politics will define Democrats’ 2028 primary
Appeals Court Blocks Part of ‘Stop WOKE Act’ in Florida, Allows Professors to Openly Teach Racism Against Whites
DNA technology leads to arrest in 1988 killing of Orlando woman after nearly four decades
“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
Sanders and Ocasio-Cortez to stump for Abdul el Sayed in Michigan Senate primary
Renowned Feminist Historian Loses Professorship as Experts Tear Apart Her So-Called Historical Findings
Trump Signals Daylight Savings Time May Soon Become Permanent, Praises Bill
Teen Athlete Goes Viral After Revealing She Was Sexually Harassed by Trans Athlete in Locker Room
Trump-aligned House holdouts accused of holding ‘life-saving’ veterans bill ‘hostage’ over SAVE America Act
CNN Needs Trauma Counselors – Paramount Looking to Actual Journalist Bari Weiss to Lead Both CNN and CBS News After Merger
Harvard astronomer tapped to lead White House UFO council says US government ‘baffled by what they are seeing’
House Democrat Ro Khanna says he was detained by armed Israeli settlers in West Bank
Trump-appointed judge permanently ends Proud Boys’ Jan 6 case, says Constitution left him no choice
Church in China Announces Massive Government Raid, Almost Three Dozen Christians Detained
Brazilian Couple Sentenced to Prison for Homeschooling Their Own Children
Europe’s demographic time bomb is killing its leaders’ popularity
WATCH: GOP senator warns ‘hammer-and-sickle’ politics will define Democrats’ 2028 primary
Appeals Court Blocks Part of ‘Stop WOKE Act’ in Florida, Allows Professors to Openly Teach Racism Against Whites
DNA technology leads to arrest in 1988 killing of Orlando woman after nearly four decades
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.
