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.”
Clancy father targeted in alleged wiretap as medical lawsuits hint at strategy split: cops
Pope Leo makes history in US election with move confirmed by Vatican
Death row killer Christa Pike describes waking up after execution she never expected to survive
Dem operative admits Ilhan Omar case has legs as liberal firewall begins to crack: ‘I’m not stupid’
25 Percent of Non-American Citizens in Single Town Illegally Voted in at Least One Federal Election: Nonprofit
US Economy Continues to Roar as Q3 GDP Growth Hits 3.4 Percent, Blowing Past Predictions
Elon Musk Lays Out Exactly What Dems Will Do If GOP Voters Don’t Show Up at the Polls
Obama Condemns Ilhan Omar Investigation That He Himself Started – Plus 6 More Examples of His Complete Hypocrisy
Peltola insists ‘I knew nothing’ about alleged ‘Decoy Dan’ scheme as Sullivan alleges she is ‘still lying’
Vance leans into Ohio ties to make a sale for GOP candidates
DOJ escalates Alaska legal battle as it pursues discovery in Peltola spoiler operation
It’s a brave new working world with Gen Z leading the charge
RNC rejects narrative of spoiler candidates ‘on both sides,’ calls Alaska scheme ‘fraudulent’
NHL Standoff Between Ex-Captain and Team Gets Ugly: ‘Suspend Without Pay. Do Not Give In.’
Trump-backed Alaska candidate blasts ‘so-called Republican’ Murkowski for endorsing Dem
“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
Clancy father targeted in alleged wiretap as medical lawsuits hint at strategy split: cops
Pope Leo makes history in US election with move confirmed by Vatican
Death row killer Christa Pike describes waking up after execution she never expected to survive
Dem operative admits Ilhan Omar case has legs as liberal firewall begins to crack: ‘I’m not stupid’
25 Percent of Non-American Citizens in Single Town Illegally Voted in at Least One Federal Election: Nonprofit
US Economy Continues to Roar as Q3 GDP Growth Hits 3.4 Percent, Blowing Past Predictions
Elon Musk Lays Out Exactly What Dems Will Do If GOP Voters Don’t Show Up at the Polls
Obama Condemns Ilhan Omar Investigation That He Himself Started – Plus 6 More Examples of His Complete Hypocrisy
Peltola insists ‘I knew nothing’ about alleged ‘Decoy Dan’ scheme as Sullivan alleges she is ‘still lying’
Vance leans into Ohio ties to make a sale for GOP candidates
DOJ escalates Alaska legal battle as it pursues discovery in Peltola spoiler operation
It’s a brave new working world with Gen Z leading the charge
RNC rejects narrative of spoiler candidates ‘on both sides,’ calls Alaska scheme ‘fraudulent’
NHL Standoff Between Ex-Captain and Team Gets Ugly: ‘Suspend Without Pay. Do Not Give In.’
Trump-backed Alaska candidate blasts ‘so-called Republican’ Murkowski for endorsing Dem
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.
