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.”
Trump says intel chief Gabbard at Georgia FBI raid to ‘keep the election safe’
Trump warns UK it’s ‘very dangerous’ to do business with China after Starmer’s Beijing meeting
Trump administration eases sanctions on Venezuelan oil industry after Maduro’s capture
Video: Anti-ICE Agitators Say Video of Woman Writhing in Pain Shows ICE Blew Part of Her Hand Off, But Look What We Found When We Slowed It Down
Minnesota Attorney General Ellison denies making any ICE agreement deal with border czar Homan
CNN’s Navarro Calls Pretti ‘Perfect Guy’ She’d Want Daughter to Date Before Disturbing New Video Surfaces
House conservatives skeptical as Senate deal sacrificing DHS spending reached: ‘Non-starter’
Dems provide Republicans key votes to advance Trump-backed funding package
Hunter Biden Argues He’s Not Legally Obligated to Communicate with His 7-Year-Old Daughter in New Court Filing
Trump files $10B lawsuit against IRS over alleged tax return leaks to major news outlets
Social justice advocate once named Bostonian of the Year sentenced in fraud case
Man Arrested While Allegedly Attempting to Break Luigi Mangione Out of Prison by Posing as an FBI Agent
Judges weigh Title IX funding fight over Virginia schools’ pro-transgender bathroom policies
Metro Los Angeles Forced to Reallocate Buses with ‘Melania’ Movie Ads After Grotesque Vandalism
Anti-ICE agitators mistake TSA air marshals for ICE agents, heckle them at Los Angeles-area restaurant
“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
Trump says intel chief Gabbard at Georgia FBI raid to ‘keep the election safe’
Trump warns UK it’s ‘very dangerous’ to do business with China after Starmer’s Beijing meeting
Trump administration eases sanctions on Venezuelan oil industry after Maduro’s capture
Video: Anti-ICE Agitators Say Video of Woman Writhing in Pain Shows ICE Blew Part of Her Hand Off, But Look What We Found When We Slowed It Down
Minnesota Attorney General Ellison denies making any ICE agreement deal with border czar Homan
CNN’s Navarro Calls Pretti ‘Perfect Guy’ She’d Want Daughter to Date Before Disturbing New Video Surfaces
House conservatives skeptical as Senate deal sacrificing DHS spending reached: ‘Non-starter’
Dems provide Republicans key votes to advance Trump-backed funding package
Hunter Biden Argues He’s Not Legally Obligated to Communicate with His 7-Year-Old Daughter in New Court Filing
Trump files $10B lawsuit against IRS over alleged tax return leaks to major news outlets
Social justice advocate once named Bostonian of the Year sentenced in fraud case
Man Arrested While Allegedly Attempting to Break Luigi Mangione Out of Prison by Posing as an FBI Agent
Judges weigh Title IX funding fight over Virginia schools’ pro-transgender bathroom policies
Metro Los Angeles Forced to Reallocate Buses with ‘Melania’ Movie Ads After Grotesque Vandalism
Anti-ICE agitators mistake TSA air marshals for ICE agents, heckle them at Los Angeles-area restaurant
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.
