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.”
Trump Offers Timeline for When Gas Prices Will Start Dropping Again
The Dubious Legal Theory That Could Make Life Even More Expensive For Americans
Trump moves to slash intelligence office ahead of permanent chief’s arrival
Why do we feel beckoned by ‘Backrooms?’
GOP victor in CA House primary cites major momentum shift in deep blue state: ‘Californians are tired’
WATCH: Hawley fumes after 4 GOP senators help sink Trump-backed voter ID law
WATCH: Maine voters divided on Platner as scandals shadow Democratic primary
OJ Simpson-era attorney sees familiar warning signs as Karmelo Anthony case fuels clash over race and justice
Graham Platner blasts new allegations as ‘false accusations’: ‘Maine, you have my back’
The Trump Effect: President’s Presence Turns NBA into NFL, At Least for a Night
Fox News Campus Radicals Newsletter: Pride flags removed, DEI back under fire, TV host’s Cali criticism
Platner shrugs off mounting controversies as ‘politically motivated’ and ‘false’ at rally
‘See you Monday’: Susie Wiles dismisses ‘Friday fiction’ she is eyeing White House exit
Trump expands TrumpRx prescription drug discount program to more than 800 medications
Sunny Hostin Admits She Hates America, Declares Country a ‘Failed Experiment’
“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
Trump Offers Timeline for When Gas Prices Will Start Dropping Again
The Dubious Legal Theory That Could Make Life Even More Expensive For Americans
Trump moves to slash intelligence office ahead of permanent chief’s arrival
Why do we feel beckoned by ‘Backrooms?’
GOP victor in CA House primary cites major momentum shift in deep blue state: ‘Californians are tired’
WATCH: Hawley fumes after 4 GOP senators help sink Trump-backed voter ID law
WATCH: Maine voters divided on Platner as scandals shadow Democratic primary
OJ Simpson-era attorney sees familiar warning signs as Karmelo Anthony case fuels clash over race and justice
Graham Platner blasts new allegations as ‘false accusations’: ‘Maine, you have my back’
The Trump Effect: President’s Presence Turns NBA into NFL, At Least for a Night
Fox News Campus Radicals Newsletter: Pride flags removed, DEI back under fire, TV host’s Cali criticism
Platner shrugs off mounting controversies as ‘politically motivated’ and ‘false’ at rally
‘See you Monday’: Susie Wiles dismisses ‘Friday fiction’ she is eyeing White House exit
Trump expands TrumpRx prescription drug discount program to more than 800 medications
Sunny Hostin Admits She Hates America, Declares Country a ‘Failed Experiment’
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.
