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.”
Battleground Dem candidate linked public displays of faith to political violence in 2023 speech
Fetterman tells far-left prosecutor to ‘lighten up’ after threatening to arrest ICE agents over raids
FTC commissioner likens American Bar Association to ‘communist party’ over far-left advocacy
NHL’s Nashville Predators Unveil New LGBT Logo, and It Doesn’t Land the Way They Hoped
Just In: Trump’s Legacy Will Now Appear on All New US Currency
Sorely needed US housing supply expansion may run through 3D printed homes
Israel has recognized Somaliland. Will the US follow?
Cruz says Trump’s move to strike Iran ‘most consequential decision’ of his presidency
Helicopter crashes into ocean off Hawaii coast, leaving multiple dead and injured
DHS shutdown breakthrough comes at cost for Republicans as funding fights nears end
New Jersey middle school teacher charged with child sex assault after alleged sexual relationship with student
Appeals court pauses orders limiting federal agents’ use of tear gas at protests near Portland ICE building
United jet dodges Black Hawk in last-second maneuver over California airport: ‘That was not good’
DHS arrests 5 illegal immigrants convicted of violent crimes including manslaughter, child assault
BREAKING: Trump Ends DHS Payment Freeze Without Congress, Issues Immediate Orders to New DHS Sec. Markwayne Mullin
“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
Battleground Dem candidate linked public displays of faith to political violence in 2023 speech
Fetterman tells far-left prosecutor to ‘lighten up’ after threatening to arrest ICE agents over raids
FTC commissioner likens American Bar Association to ‘communist party’ over far-left advocacy
NHL’s Nashville Predators Unveil New LGBT Logo, and It Doesn’t Land the Way They Hoped
Just In: Trump’s Legacy Will Now Appear on All New US Currency
Sorely needed US housing supply expansion may run through 3D printed homes
Israel has recognized Somaliland. Will the US follow?
Cruz says Trump’s move to strike Iran ‘most consequential decision’ of his presidency
Helicopter crashes into ocean off Hawaii coast, leaving multiple dead and injured
DHS shutdown breakthrough comes at cost for Republicans as funding fights nears end
New Jersey middle school teacher charged with child sex assault after alleged sexual relationship with student
Appeals court pauses orders limiting federal agents’ use of tear gas at protests near Portland ICE building
United jet dodges Black Hawk in last-second maneuver over California airport: ‘That was not good’
DHS arrests 5 illegal immigrants convicted of violent crimes including manslaughter, child assault
BREAKING: Trump Ends DHS Payment Freeze Without Congress, Issues Immediate Orders to New DHS Sec. Markwayne Mullin
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.
