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.”
Republicans blast Democrats’ Trump election meddling claims as hypocritical ‘conspiracy theory’
Mounds of Snow and Trash Are Just the Opening Act of Mamdani’s Collectivist New York
Who is Kyle Wagner? Meet the self-identified Antifa member arrested after targeting ICE
Maryland Man Charged with Attempting to Murder Trump Administration Official
Suicide bomber kills dozens at Shiite mosque in Pakistan
Benghazi terror suspect extradited to face US charges
It’s AOC’s Party Now: Bernie-Backed Far-Leftist Could Win Dem Nomination to Replace ‘Moderate’ Sherrill in NJ
12 Minneapolis anti-ICE agitators arrested after massive crowd gathers outside Hilton hotel
First Nancy Guthrie Ransom Note Deadline Expires: ‘Do the Right Thing’
Shapiro fires back at DHS, says truck driver accused in deadly crash had legal status in database
RNC rolls out ‘powerful’ new TikTok strategy to win over key demographic after Trump’s 2024 success
‘Not Alaska First’: Peltola’s Green New Deal allies draw scrutiny in Alaska Senate bid
Hegseth says US strikes force some cartel leaders to halt drug operations
Can the late shah’s son sell the Trump administration on leading a postcleric regime in Iran?
Proposed California ‘wealth tax’ may backfire on liberal politicians as state’s revenue base dries up
“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
Republicans blast Democrats’ Trump election meddling claims as hypocritical ‘conspiracy theory’
Mounds of Snow and Trash Are Just the Opening Act of Mamdani’s Collectivist New York
Who is Kyle Wagner? Meet the self-identified Antifa member arrested after targeting ICE
Maryland Man Charged with Attempting to Murder Trump Administration Official
Suicide bomber kills dozens at Shiite mosque in Pakistan
Benghazi terror suspect extradited to face US charges
It’s AOC’s Party Now: Bernie-Backed Far-Leftist Could Win Dem Nomination to Replace ‘Moderate’ Sherrill in NJ
12 Minneapolis anti-ICE agitators arrested after massive crowd gathers outside Hilton hotel
First Nancy Guthrie Ransom Note Deadline Expires: ‘Do the Right Thing’
Shapiro fires back at DHS, says truck driver accused in deadly crash had legal status in database
RNC rolls out ‘powerful’ new TikTok strategy to win over key demographic after Trump’s 2024 success
‘Not Alaska First’: Peltola’s Green New Deal allies draw scrutiny in Alaska Senate bid
Hegseth says US strikes force some cartel leaders to halt drug operations
Can the late shah’s son sell the Trump administration on leading a postcleric regime in Iran?
Proposed California ‘wealth tax’ may backfire on liberal politicians as state’s revenue base dries up
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.
