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.”
Extreme Climate Model Scenario Was Widely Used Despite Being Impossible
Controversial program paying drug users for used syringes becomes permanent in NYC
Education Department Moves To Crack Down On Schools, Teachers Unions Protecting Sexual Predators
WATCH: Josh Hawley issues blistering rebuke of McConnell over ‘obligation’ to country
Tulsi Gabbard’s brother charged after allegedly trying to lure children to Waikīkī hotel room: police
Andrew, Tristan Tate arrested in Miami as UK seeks extradition on expanded rape, trafficking charges
Mamdani doubles down on democratic socialism while insisting Wall Street, business leaders can work with him
Boston police investigate death at home owned by Rep. Ayanna Pressley’s husband
Bernie Sanders dismisses Haley Stevens, says Michigan race is against the ‘billionaire class’
Mamdani says NYC is exploring whether it can arrest Netanyahu if Israeli leader visits for UN General Assembly
Man who allegedly rode naked atop moving locomotive busted after bizarre train stunt: sheriff
Liberal circuit judge blasts SCOTUS conservatives, says Hawaii will defy high court
Rubio Goes Viral as Millions Watch, Share His Rousing Speech on the Evils of the Modern Left
Caitlin Clark Sets Scoring Record with Monster 45-Point Game in Comeback Win
Tough But Moral: How Israel Phoned a Terrorist and Offered to Kill Him Without Touching His Family… and He Took the Deal
“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
Extreme Climate Model Scenario Was Widely Used Despite Being Impossible
Controversial program paying drug users for used syringes becomes permanent in NYC
Education Department Moves To Crack Down On Schools, Teachers Unions Protecting Sexual Predators
WATCH: Josh Hawley issues blistering rebuke of McConnell over ‘obligation’ to country
Tulsi Gabbard’s brother charged after allegedly trying to lure children to Waikīkī hotel room: police
Andrew, Tristan Tate arrested in Miami as UK seeks extradition on expanded rape, trafficking charges
Mamdani doubles down on democratic socialism while insisting Wall Street, business leaders can work with him
Boston police investigate death at home owned by Rep. Ayanna Pressley’s husband
Bernie Sanders dismisses Haley Stevens, says Michigan race is against the ‘billionaire class’
Mamdani says NYC is exploring whether it can arrest Netanyahu if Israeli leader visits for UN General Assembly
Man who allegedly rode naked atop moving locomotive busted after bizarre train stunt: sheriff
Liberal circuit judge blasts SCOTUS conservatives, says Hawaii will defy high court
Rubio Goes Viral as Millions Watch, Share His Rousing Speech on the Evils of the Modern Left
Caitlin Clark Sets Scoring Record with Monster 45-Point Game in Comeback Win
Tough But Moral: How Israel Phoned a Terrorist and Offered to Kill Him Without Touching His Family… and He Took the Deal
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.
