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.”
Illegal immigrant accused of fentanyl dealing linked to Virginia high school overdoses
Houston Uber driver caught in wild police chase as officers seen on dashcam video hitching a ride in his car
Trump administration proposes six-figure price tag for new H-1B visas
Trump admin eyes historic mass visa revocation targeting up to 200K asylum seekers: report
Watch: Scott Bessent Announces Details of ‘Unprecedented Campaign’ Against ‘Iran and Its Enablers’
‘Moderate’ Dem gubernatorial candidate embraced DEI budget tool, Green New Deal-style policies
Trump scores Supreme Court win on mail-in voting restrictions before midterms
Trump administration touts ‘hard reset’ for American schools, vows to put parents ‘back in charge’
San Francisco 49ers Owner Arrested at Trailer Park in East Palestine, Ohio
Oklahoma-based Southwest Airlines flight attendant found dead in Hawaii, police investigating
UK gives missile blueprints to Ukraine as relations with Russia collapse
Manhunt for Massachusetts woman ends with grim discovery week after police officer husband found dead at home
Tree-Trimmer Arrested After On-the-Job ‘Prank’ Leaves Co-Worker Dead
Schiff attack on Trump’s DC IndyCar race backfires after driver points out contradiction
Vance’s decade-old ‘great regrets’ resurfaces as El-Sayed’s jab at second lady comes back to bite him
“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
Illegal immigrant accused of fentanyl dealing linked to Virginia high school overdoses
Houston Uber driver caught in wild police chase as officers seen on dashcam video hitching a ride in his car
Trump administration proposes six-figure price tag for new H-1B visas
Trump admin eyes historic mass visa revocation targeting up to 200K asylum seekers: report
Watch: Scott Bessent Announces Details of ‘Unprecedented Campaign’ Against ‘Iran and Its Enablers’
‘Moderate’ Dem gubernatorial candidate embraced DEI budget tool, Green New Deal-style policies
Trump scores Supreme Court win on mail-in voting restrictions before midterms
Trump administration touts ‘hard reset’ for American schools, vows to put parents ‘back in charge’
San Francisco 49ers Owner Arrested at Trailer Park in East Palestine, Ohio
Oklahoma-based Southwest Airlines flight attendant found dead in Hawaii, police investigating
UK gives missile blueprints to Ukraine as relations with Russia collapse
Manhunt for Massachusetts woman ends with grim discovery week after police officer husband found dead at home
Tree-Trimmer Arrested After On-the-Job ‘Prank’ Leaves Co-Worker Dead
Schiff attack on Trump’s DC IndyCar race backfires after driver points out contradiction
Vance’s decade-old ‘great regrets’ resurfaces as El-Sayed’s jab at second lady comes back to bite him
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.
