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.”
Jesse Watters Asks Todd Blanche Point-Blank If He Thinks Bondi Mishandled Epstein Files
Hegseth Says Service Members May Carry Firearms on Military Bases Reversing Dangerous Biden Policy
A de facto pro forma: Why Washington fixated these sessions as the DHS shutdown dragged on through recess
FBI’s Patel delivers blunt warning to law enforcement attackers: ‘We’re going to put you down’
Jewish Europeans face deteriorating ‘normal’ as advocates warn spiking antisemitism a ‘mutating virus’
TEVI TROY: Trump faces the burdens of a wartime presidency
Daughters’ relentless search shatters ‘overdose’ claim, leads to arrest in mom’s 1992 murder
Three people hospitalized after city bus crashes into popular DC restaurant: officials
Democrat Lawmakers Move to Ban Napkins, Utensils in Take Out Food Orders
Blackmon: Competition, Not Monopoly Control, The Answer To Grid Reliability
ICE arrests relatives of slain Iranian general Soleimani living in US after Rubio revokes their green cards
Older Drivers Could Be Forced to Take Road Test Again for License Renewal in Key Swing State
Watch: Punk Thinks He Can Steal from Tip Jar While Owner’s Back Is Turned – Has No Idea the Internet’s Watching Live and Nailed Him Immediately
Trump unveils $1.5T defense surge, deep domestic cuts — what’s on the budget chopping block
One of America’s prettiest cities scrambles to reclaim storybook streets from homeless camps, drug dens
“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
Jesse Watters Asks Todd Blanche Point-Blank If He Thinks Bondi Mishandled Epstein Files
Hegseth Says Service Members May Carry Firearms on Military Bases Reversing Dangerous Biden Policy
A de facto pro forma: Why Washington fixated these sessions as the DHS shutdown dragged on through recess
FBI’s Patel delivers blunt warning to law enforcement attackers: ‘We’re going to put you down’
Jewish Europeans face deteriorating ‘normal’ as advocates warn spiking antisemitism a ‘mutating virus’
TEVI TROY: Trump faces the burdens of a wartime presidency
Daughters’ relentless search shatters ‘overdose’ claim, leads to arrest in mom’s 1992 murder
Three people hospitalized after city bus crashes into popular DC restaurant: officials
Democrat Lawmakers Move to Ban Napkins, Utensils in Take Out Food Orders
Blackmon: Competition, Not Monopoly Control, The Answer To Grid Reliability
ICE arrests relatives of slain Iranian general Soleimani living in US after Rubio revokes their green cards
Older Drivers Could Be Forced to Take Road Test Again for License Renewal in Key Swing State
Watch: Punk Thinks He Can Steal from Tip Jar While Owner’s Back Is Turned – Has No Idea the Internet’s Watching Live and Nailed Him Immediately
Trump unveils $1.5T defense surge, deep domestic cuts — what’s on the budget chopping block
One of America’s prettiest cities scrambles to reclaim storybook streets from homeless camps, drug dens
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.
