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.”
Here are the states with voter ID on the ballot this November
Alarming fraud trend puts small-town mosque with industry and foreign govt ties in focus: ‘Our motherland now’
Leavitt says Trump is defying midterm headwinds as he barnstorms country
Florida A&M University shooting leaves 12 injured, including 6 children, near football stadium
Op-Ed: Stalin Believed in Predestination – Just Not the Calvinist Kind
Obama makes the case for el Sayed and a Democratic Party that can disagree
Constitutional Attorney: If We’re Not Careful, the US Could End Up Like France
Ukraine’s Starlink restored as Elon Musk claims Kyiv violated terms of service ‘to kill people’
Breaking: ‘Explosion’ at Quaker Oats Factory Rocks Midwest City as Large Smoke Cloud Looms
Obama compares Trump’s White House renovations to ‘Saddam Hussein opening a Cheesecake Factory’ at Ohio rally
Trump’s go-to Michigan auto worker gets a job and the spotlight
Felon Accused of Shooting National Guardsman Slapped With Federal Charges
Hegseth Quietly Meets Netanyahu as Trump Weighs Massive New Iran Offensive
This Isn’t Want Dems Had in Mind: Cali’s Wealth Tax Plan Handed Billionaire Zuckerberg a Massive Pay Increase
Did He Forget About 9/11? Muslim Brotherhood-Connected El-Sayed Said US Was ‘A Lot More Safe’ Under INS
“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
Here are the states with voter ID on the ballot this November
Alarming fraud trend puts small-town mosque with industry and foreign govt ties in focus: ‘Our motherland now’
Leavitt says Trump is defying midterm headwinds as he barnstorms country
Florida A&M University shooting leaves 12 injured, including 6 children, near football stadium
Op-Ed: Stalin Believed in Predestination – Just Not the Calvinist Kind
Obama makes the case for el Sayed and a Democratic Party that can disagree
Constitutional Attorney: If We’re Not Careful, the US Could End Up Like France
Ukraine’s Starlink restored as Elon Musk claims Kyiv violated terms of service ‘to kill people’
Breaking: ‘Explosion’ at Quaker Oats Factory Rocks Midwest City as Large Smoke Cloud Looms
Obama compares Trump’s White House renovations to ‘Saddam Hussein opening a Cheesecake Factory’ at Ohio rally
Trump’s go-to Michigan auto worker gets a job and the spotlight
Felon Accused of Shooting National Guardsman Slapped With Federal Charges
Hegseth Quietly Meets Netanyahu as Trump Weighs Massive New Iran Offensive
This Isn’t Want Dems Had in Mind: Cali’s Wealth Tax Plan Handed Billionaire Zuckerberg a Massive Pay Increase
Did He Forget About 9/11? Muslim Brotherhood-Connected El-Sayed Said US Was ‘A Lot More Safe’ Under INS
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.
