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.”
Black conservative reveals how GOP can lock down minority voters without Trump on ballot
Sweden’s right-wing government hoping nationalist-populist allies will hold back left-wing coalition
Wisconsin GOP governor candidate swims from sinking plane after emergency lake landing
Man accused in brutal motel stabbing sought as person of interest in 4 deaths, child attack
Florida woman accused of setting stranger on fire at gas station, leaving horrific burns
Knife-wielding man races at officer in packed seaside park before one deadly shot rings out: video
Uninvited woman enters Kamala Harris’ Malibu property prompting sheriff response: reports
Son of notorious Somali dictator reportedly living in Ohio decades after brutal regime’s collapse
The Fentanyl Crisis May Be Coming to an End But Kratom Is Ready to Take It’s Place
Video Puts US Military Power on Full Display, Shows Total Missile-Strike Destruction of Iran Tankers
Sick: At 9:11 PM on 25th Anniversary of 9/11, Man Runs on Field at Yankee Stadium With Palestinian Flag
Nuns Fight Back Against Law Forcing Them to Help Patients Kill Themselves
Outrageous Taxation Has Destroyed American Lives Going Back Decades
Canada Hits Back at Trump with Tariffs Affecting Key Midterm Battlegrounds
Trump’s DOT Could Cut American Electric Bills with Unconventional Plan to Lease Land for Power Lines
“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
Black conservative reveals how GOP can lock down minority voters without Trump on ballot
Sweden’s right-wing government hoping nationalist-populist allies will hold back left-wing coalition
Wisconsin GOP governor candidate swims from sinking plane after emergency lake landing
Man accused in brutal motel stabbing sought as person of interest in 4 deaths, child attack
Florida woman accused of setting stranger on fire at gas station, leaving horrific burns
Knife-wielding man races at officer in packed seaside park before one deadly shot rings out: video
Uninvited woman enters Kamala Harris’ Malibu property prompting sheriff response: reports
Son of notorious Somali dictator reportedly living in Ohio decades after brutal regime’s collapse
The Fentanyl Crisis May Be Coming to an End But Kratom Is Ready to Take It’s Place
Video Puts US Military Power on Full Display, Shows Total Missile-Strike Destruction of Iran Tankers
Sick: At 9:11 PM on 25th Anniversary of 9/11, Man Runs on Field at Yankee Stadium With Palestinian Flag
Nuns Fight Back Against Law Forcing Them to Help Patients Kill Themselves
Outrageous Taxation Has Destroyed American Lives Going Back Decades
Canada Hits Back at Trump with Tariffs Affecting Key Midterm Battlegrounds
Trump’s DOT Could Cut American Electric Bills with Unconventional Plan to Lease Land for Power Lines
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.
