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.”
Rahm Emanuel Disavows Far-Left Socialists, Says They’re Not ‘Part of the Democratic Party’
Gunman ID’d in Slaughter of 8 Family Members at Sunday Dinner As Disturbing Motive Comes Into Focus
New federal grand jury subpoena issued to former James Comey advisor in leak investigation: sources
Federal Appeals Court Rejects NJ Dem. Rep. McIver’s Request to Drop ICE Assault Charges
New Fauci Docs Prove He Repeatedly Told People to Delete Emails He Sent Them
FIRST ON FOX: Texas becomes testing ground for new defense against attacks on America’s water systems
Death toll from Nepal floods tops 900
Bernie Sanders says top Democrats aren’t enthusiastic enough about el Sayed to win Michigan
Newark airport shuttle bus slams into concrete barrier, injuring 13
Deadly Grand Canyon flooding knocks out critical water line amid race to find missing hikers
Vulnerable Dem’s own audit admits Medicaid oversight failure amid massive statewide fraud scandal
Docs Expose Fauci, Shows He Complained About Pre-COVID ‘Doomsday’ Warning Then Erased it from Existence
‘Jesus was a radical’: Progressives invoke Christ to sell left-wing agenda on campaign trail
Inside the dangerous US mission that cleared Iran’s mines from Hormuz shipping lanes
Abdul El-Sayed shares dozens of donors with ex-GOP candidate at center of antisemitism controversy
“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
Rahm Emanuel Disavows Far-Left Socialists, Says They’re Not ‘Part of the Democratic Party’
Gunman ID’d in Slaughter of 8 Family Members at Sunday Dinner As Disturbing Motive Comes Into Focus
New federal grand jury subpoena issued to former James Comey advisor in leak investigation: sources
Federal Appeals Court Rejects NJ Dem. Rep. McIver’s Request to Drop ICE Assault Charges
New Fauci Docs Prove He Repeatedly Told People to Delete Emails He Sent Them
FIRST ON FOX: Texas becomes testing ground for new defense against attacks on America’s water systems
Death toll from Nepal floods tops 900
Bernie Sanders says top Democrats aren’t enthusiastic enough about el Sayed to win Michigan
Newark airport shuttle bus slams into concrete barrier, injuring 13
Deadly Grand Canyon flooding knocks out critical water line amid race to find missing hikers
Vulnerable Dem’s own audit admits Medicaid oversight failure amid massive statewide fraud scandal
Docs Expose Fauci, Shows He Complained About Pre-COVID ‘Doomsday’ Warning Then Erased it from Existence
‘Jesus was a radical’: Progressives invoke Christ to sell left-wing agenda on campaign trail
Inside the dangerous US mission that cleared Iran’s mines from Hormuz shipping lanes
Abdul El-Sayed shares dozens of donors with ex-GOP candidate at center of antisemitism controversy
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.
