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.”
The growing list of controversies threatening Democrat Graham Platner’s Maine Senate bid
Conservatives erupt after Al Green melts down during viral clash: ‘Unhinged lunatic’
Trump says he will nominate acting AG Todd Blanche to permanently lead Justice Department
US military kills two alleged narco-terrorists in latest Eastern Pacific strike on drug-trafficking vessel
Rubio torches Democrat after bizarre hearing questions about his shoes: ‘Is this a circus?’
Gov. Mikie Sherrill accuses ICE of denying her access to Newark detention facility Delaney Hall
Bessent flips script on Dem senator with reminder about his son’s past ties to Epstein
Watch: Painful Silence Descends After AG Blanche Asks Dem Rep to Provide Source for Wild Epstein Claim, Then She Gives Dumbest Answer Possible
Garth Brooks Nears Unprecedented $2 Billion Deal That Would See Him Relinquish His Music Catalog: Report
Frontier passengers tackle man who allegedly choked off-duty flight attendant, tried to open door mid-flight
Watch: Marco Rubio Stunned as Democratic Rep Completely Loses It and Walks Out of Hearing
Islamic Guerilla Forces Attack Christians in African Country, Slaughter 21
Texas Leftist’s ‘Rally Against Rednecks’ Backfires
Christian Couple Wins Massive Victory Over Blue State That Barred Them from Foster Program
Thune moves to neutralize immigration bill landmines from DOJ lawfare fund
“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
The growing list of controversies threatening Democrat Graham Platner’s Maine Senate bid
Conservatives erupt after Al Green melts down during viral clash: ‘Unhinged lunatic’
Trump says he will nominate acting AG Todd Blanche to permanently lead Justice Department
US military kills two alleged narco-terrorists in latest Eastern Pacific strike on drug-trafficking vessel
Rubio torches Democrat after bizarre hearing questions about his shoes: ‘Is this a circus?’
Gov. Mikie Sherrill accuses ICE of denying her access to Newark detention facility Delaney Hall
Bessent flips script on Dem senator with reminder about his son’s past ties to Epstein
Watch: Painful Silence Descends After AG Blanche Asks Dem Rep to Provide Source for Wild Epstein Claim, Then She Gives Dumbest Answer Possible
Garth Brooks Nears Unprecedented $2 Billion Deal That Would See Him Relinquish His Music Catalog: Report
Frontier passengers tackle man who allegedly choked off-duty flight attendant, tried to open door mid-flight
Watch: Marco Rubio Stunned as Democratic Rep Completely Loses It and Walks Out of Hearing
Islamic Guerilla Forces Attack Christians in African Country, Slaughter 21
Texas Leftist’s ‘Rally Against Rednecks’ Backfires
Christian Couple Wins Massive Victory Over Blue State That Barred Them from Foster Program
Thune moves to neutralize immigration bill landmines from DOJ lawfare fund
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.
