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.”
All Jewish councils in key New Jersey area endorse Jack Ciattarelli for governor: report
Woman’s Attempt to Kill a Cockroach Leads to Apartment Fire That Leaves a New Mother Dead: Police
Army Ranger: America’s Young Men Are in Trouble – Here’s the Solution
Amy Bradley disappearance sees 3 major new leads as investigators renew decades-old search: report
‘Narco-banners’ reportedly threaten Americans in vacation hot spot where cartels rule like mafia: expert
New Oklahoma Law Could Mean Serious Jail Time for First Drunk Driving Offenses: Should Other States Follow Suit?
PHOTOS: The making of Trump’s White House ballroom, a look at the construction progress
Ohio Mom Sentenced to Prison for Leaving Her Baby Boy with an Aggressive Pit Bull Before He Was Mauled to Death
Suspects arrested in theft of Louvre crown jewels
Old clip resurfaces as Mamdani takes heat for claiming Muslim victimhood after 9/11
Border Patrol Faces Attacks from Violent Chicago Rioters on ‘Most Violent Days’ of Operation Midway Blitz
Swalwell demands 2028 Dem candidates vow to destroy Trump’s White House ballroom project
Family of Boy Pinned in California Helicopter Crash Shares Update on His Condition: ‘We are Praying for a Safe Recovery’
Charlie Kirk inspires Gen Z to trade parties for prayer as college frats spark faith revival, expert says
First time voting? Here is the ultimate guide to ballot boxes, critical issues on Election Day
“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
All Jewish councils in key New Jersey area endorse Jack Ciattarelli for governor: report
Woman’s Attempt to Kill a Cockroach Leads to Apartment Fire That Leaves a New Mother Dead: Police
Army Ranger: America’s Young Men Are in Trouble – Here’s the Solution
Amy Bradley disappearance sees 3 major new leads as investigators renew decades-old search: report
‘Narco-banners’ reportedly threaten Americans in vacation hot spot where cartels rule like mafia: expert
New Oklahoma Law Could Mean Serious Jail Time for First Drunk Driving Offenses: Should Other States Follow Suit?
PHOTOS: The making of Trump’s White House ballroom, a look at the construction progress
Ohio Mom Sentenced to Prison for Leaving Her Baby Boy with an Aggressive Pit Bull Before He Was Mauled to Death
Suspects arrested in theft of Louvre crown jewels
Old clip resurfaces as Mamdani takes heat for claiming Muslim victimhood after 9/11
Border Patrol Faces Attacks from Violent Chicago Rioters on ‘Most Violent Days’ of Operation Midway Blitz
Swalwell demands 2028 Dem candidates vow to destroy Trump’s White House ballroom project
Family of Boy Pinned in California Helicopter Crash Shares Update on His Condition: ‘We are Praying for a Safe Recovery’
Charlie Kirk inspires Gen Z to trade parties for prayer as college frats spark faith revival, expert says
First time voting? Here is the ultimate guide to ballot boxes, critical issues on Election Day
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.
