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.”
SEE IT: Chinese nationals intercepted in ‘extremely dangerous’ infiltration attempt near Florida coast
Blue state gov ignites online firestorm with plan to send gov’t into homes of newborn babies: ‘Lunatic libs’
Hegseth thinks the solution to his woes is to ‘send himself.’ It’s not
Breaking: Fox News Joins Mainstream Media Networks in White House Boycott
Undercover Video Outs Heresy in Talarico’s Longtime Church: They Hand Out ‘Rewritten’ Bibles That Defy God’s Identity
‘American Idol’ contestant’s 100K texts with mistress show motive in wife’s murder, prosecutors say
Critics pounce as prominent Dem senator seems to make admission about party’s far-left ‘fringe’
Social media erupts over Hasan Piker post targeting Brandon Gill’s wife
Video: After Dozens of US Historical Statues Removed by Left, Indians in TX Have Built Gargantuan 90 Ft. Statue to Pagan ‘God’
Tourists seeking ‘dramatic’ photo on isolated beach trapped by incoming tide
Trump allies building ‘lawfare’ defense apparatus before possible Democratic takeover
Judge Blocks Blue State from Making Nuns Perform Assisted Suicide But It’s Not Over Yet
House GOP not done with ActBlue after bombshell internal memos raise foreign cash questions
GOP takes aim at Congress’ next ‘get filthy rich’ loophole after stock-trading ban
Socialists are helping GOP campaigns heading into November
“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
SEE IT: Chinese nationals intercepted in ‘extremely dangerous’ infiltration attempt near Florida coast
Blue state gov ignites online firestorm with plan to send gov’t into homes of newborn babies: ‘Lunatic libs’
Hegseth thinks the solution to his woes is to ‘send himself.’ It’s not
Breaking: Fox News Joins Mainstream Media Networks in White House Boycott
Undercover Video Outs Heresy in Talarico’s Longtime Church: They Hand Out ‘Rewritten’ Bibles That Defy God’s Identity
‘American Idol’ contestant’s 100K texts with mistress show motive in wife’s murder, prosecutors say
Critics pounce as prominent Dem senator seems to make admission about party’s far-left ‘fringe’
Social media erupts over Hasan Piker post targeting Brandon Gill’s wife
Video: After Dozens of US Historical Statues Removed by Left, Indians in TX Have Built Gargantuan 90 Ft. Statue to Pagan ‘God’
Tourists seeking ‘dramatic’ photo on isolated beach trapped by incoming tide
Trump allies building ‘lawfare’ defense apparatus before possible Democratic takeover
Judge Blocks Blue State from Making Nuns Perform Assisted Suicide But It’s Not Over Yet
House GOP not done with ActBlue after bombshell internal memos raise foreign cash questions
GOP takes aim at Congress’ next ‘get filthy rich’ loophole after stock-trading ban
Socialists are helping GOP campaigns heading into November
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.
