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.”
Growing Number of Conservatives Turn on DHS Sec. Markwayne Mullin Over Soft ‘Immigration Reform’ Rhetoric
FIRST ON FOX: Trump to open direct line with military families in ground-up readiness push
Outrage over noncitizens allegedly voting in elections ignites probe into Garden State Dems
To Secure AG Job, Blanche Kills off Anti-Weaponization Fund Designed to Compensate Victims of Gov’t Witch Hunts, Like Most J6ers
Nancy Guthrie ransom notes release follows Unabomber ‘precedent’ that cracked case, expert says
SEE IT: Dashcam shows Florida trooper chasing alleged street takeover suspect at 140 mph
Chris ‘Fredo’ Cuomo Tries Playing Tough Guy for Anthony Fauci, Gets Nuked By Social Media
WNBA Head Coach Protests Sophie Cunningham with ‘Trans Kids’ Shirt During Game
Trump can declare Iran victory now and withdraw troops, former counterterror official argues
Races to watch in Michigan as establishment Democrats face off against challenges on their left flank
Top Trump ally warns super PAC bankrolled by Dem billionaire is meddling in his GOP primary
Trump v. Smithsonian: A timeline of how the White House fight over ‘woke’ history unfolded
First showdown in race for Lindsey Graham’s Senate seat puts GOP hopefuls to the test
Todd Blanche moves closer to confirmation after rescinding $1.8B fund
Deadliest animal in every US state revealed, from moose and bears to dogs
“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
Growing Number of Conservatives Turn on DHS Sec. Markwayne Mullin Over Soft ‘Immigration Reform’ Rhetoric
FIRST ON FOX: Trump to open direct line with military families in ground-up readiness push
Outrage over noncitizens allegedly voting in elections ignites probe into Garden State Dems
To Secure AG Job, Blanche Kills off Anti-Weaponization Fund Designed to Compensate Victims of Gov’t Witch Hunts, Like Most J6ers
Nancy Guthrie ransom notes release follows Unabomber ‘precedent’ that cracked case, expert says
SEE IT: Dashcam shows Florida trooper chasing alleged street takeover suspect at 140 mph
Chris ‘Fredo’ Cuomo Tries Playing Tough Guy for Anthony Fauci, Gets Nuked By Social Media
WNBA Head Coach Protests Sophie Cunningham with ‘Trans Kids’ Shirt During Game
Trump can declare Iran victory now and withdraw troops, former counterterror official argues
Races to watch in Michigan as establishment Democrats face off against challenges on their left flank
Top Trump ally warns super PAC bankrolled by Dem billionaire is meddling in his GOP primary
Trump v. Smithsonian: A timeline of how the White House fight over ‘woke’ history unfolded
First showdown in race for Lindsey Graham’s Senate seat puts GOP hopefuls to the test
Todd Blanche moves closer to confirmation after rescinding $1.8B fund
Deadliest animal in every US state revealed, from moose and bears to dogs
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.
