Finance News Opinons Politics

President Trump Terminates India’s Preferential Trade Status

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.”


As reported by Bloomberg:

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 troop cuts in Europe could be blocked by Congress — here’s how he might get around it
Communist and socialist groups call for ‘revolution’ and seizure of property at Minneapolis May Day rally
Female Accused Would-Be Trump Assassin Walks Free Days After Third Assassination Attempt
Trump Greenlights ‘Keystone Light’ Pipeline to Help Replace Oil Source Infamously Blocked on Biden’s Day 1
ICE lines up to boot illegal immigrant child sex predator after bogus asylum claim, early prison release
Beloved crossing guard killed by alleged drunk driver while helping kids cross the street in Louisiana
Mamdani allocates $500K for reparations talks as NYC faces $5.4B deficit
‘New Democrat party’: Senate GOP sounds off on ‘extreme’ Graham Platner as Senate race in Maine heats up
Would-Be Trump Assassin Wasn’t Only One Encountering ‘Insane’ Security Arrangement at Glitzy Dinner
Report: Biden Admin Hid Planned Parenthood Loan Discussions Using Code Word ‘Benghazi’
Universities face funding threat as lawmakers target schools with ties to adversarial nations
Supreme Court scrambles 2026 maps, sets up larger redistricting fight beyond
Inside the far left ‘breeding ground’ universities alleged WHCD called home for years
Four noncitizens charged with illegally voting in 2020, 2022 and 2024 federal elections in New Jersey
Trump teases US will be ‘taking over’ Cuba ‘almost immediately’ in Florida speech
See also  Man charged security checkpoint and shot Secret Service agent at White House correspondents’ dinner: Trump

“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.”


Trump troop cuts in Europe could be blocked by Congress — here’s how he might get around it
Communist and socialist groups call for ‘revolution’ and seizure of property at Minneapolis May Day rally
Female Accused Would-Be Trump Assassin Walks Free Days After Third Assassination Attempt
Trump Greenlights ‘Keystone Light’ Pipeline to Help Replace Oil Source Infamously Blocked on Biden’s Day 1
ICE lines up to boot illegal immigrant child sex predator after bogus asylum claim, early prison release
Beloved crossing guard killed by alleged drunk driver while helping kids cross the street in Louisiana
Mamdani allocates $500K for reparations talks as NYC faces $5.4B deficit
‘New Democrat party’: Senate GOP sounds off on ‘extreme’ Graham Platner as Senate race in Maine heats up
Would-Be Trump Assassin Wasn’t Only One Encountering ‘Insane’ Security Arrangement at Glitzy Dinner
Report: Biden Admin Hid Planned Parenthood Loan Discussions Using Code Word ‘Benghazi’
Universities face funding threat as lawmakers target schools with ties to adversarial nations
Supreme Court scrambles 2026 maps, sets up larger redistricting fight beyond
Inside the far left ‘breeding ground’ universities alleged WHCD called home for years
Four noncitizens charged with illegally voting in 2020, 2022 and 2024 federal elections in New Jersey
Trump teases US will be ‘taking over’ Cuba ‘almost immediately’ in Florida speech
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.

Share this article:
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter