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.”
Officials say possible crack in unstable chemical tank may relieve pressure at aerospace plant
Retiring senator warns if Trump continues to do ‘stupid things’ it will kill GOP in November
‘Wasteful distraction’: Experts slam Mamdani’s taxpayer-funded grocery stores
WWII vet gives direct message to young people today: ‘We gave up our yesterdays for your tomorrows’
Dem socialist running for Wisconsin governor pushed ‘abolishing the police’
From rally gunfire to White House shooting, threats against President Trump continue to mount
Ice Cream Recall Affects Residents of 17 States
This European Commentator Was Banned from Britain for Wrongthink
These Christian Girls from Pakistan Were Forced Into Marriage by Muslims
White House blasts Cruz, Pompeo for trashing Trump peace efforts as Iran appeasement
NYT Makes Whopping Admission on AR-15s, AK-47s, Deals Devastating Blow to Gun Grabbers
Crazed Man Kidnaps Chicago Bus Driver at Knifepoint, Leads Her to Jump Out Window
California mayors revolt over Newsom bullet train plan they warn could ‘raid’ local tax bases
Florida Grocery Chain Backtracks on Allowing Open Firearm Carry
White House gunman had criminal record, history of mental health issues
“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
Officials say possible crack in unstable chemical tank may relieve pressure at aerospace plant
Retiring senator warns if Trump continues to do ‘stupid things’ it will kill GOP in November
‘Wasteful distraction’: Experts slam Mamdani’s taxpayer-funded grocery stores
WWII vet gives direct message to young people today: ‘We gave up our yesterdays for your tomorrows’
Dem socialist running for Wisconsin governor pushed ‘abolishing the police’
From rally gunfire to White House shooting, threats against President Trump continue to mount
Ice Cream Recall Affects Residents of 17 States
This European Commentator Was Banned from Britain for Wrongthink
These Christian Girls from Pakistan Were Forced Into Marriage by Muslims
White House blasts Cruz, Pompeo for trashing Trump peace efforts as Iran appeasement
NYT Makes Whopping Admission on AR-15s, AK-47s, Deals Devastating Blow to Gun Grabbers
Crazed Man Kidnaps Chicago Bus Driver at Knifepoint, Leads Her to Jump Out Window
California mayors revolt over Newsom bullet train plan they warn could ‘raid’ local tax bases
Florida Grocery Chain Backtracks on Allowing Open Firearm Carry
White House gunman had criminal record, history of mental health issues
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.
