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.”
Last-Ditch Effort to Kill Trump Fossil Fuel EOs Goes Down in Flames
Why Did Pollsters Get Michigan And Wisconsin Primaries So Wrong?
Jon Ossoff, Georgia’s first Jewish senator, faces angry Jewish voters
Trump’s men at the United Nations
Swing-state’s fraud reckoning raises Minnesota-style alarm as wild schemes exposed
Mundane DOJ Memo on Post Office Gun Bans Is Actually Bigger Deal Than You Think
ICE bought nonlethal shock gloves for officers. Democrats still are not pleased
Americans clash over transgender athletes as debate heats up: ‘Just getting outrageous’
Routine California traffic stop leads to seizure of 30 pounds of cocaine worth more than $800K
New Report Says Chinese Cameras Used in Naval Assets Secretly Sent Data to Communist Country
Alaska runner hospitalized after using bear spray to fight off brown bear on Alaska trail
Nevada man funneled 140 guns to violent Mexican drug cartels, including powerful ‘military-style’ rifles: DOJ
Ex-detective who served fraction of 102-year sentence faces new charges after cold case review
Judge Keeps Major Biden Admin Gun Rule On Ice
Fauci refuses Senate appearance after invoking Fifth Amendment more than 100 times in COVID probe
“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
Last-Ditch Effort to Kill Trump Fossil Fuel EOs Goes Down in Flames
Why Did Pollsters Get Michigan And Wisconsin Primaries So Wrong?
Jon Ossoff, Georgia’s first Jewish senator, faces angry Jewish voters
Trump’s men at the United Nations
Swing-state’s fraud reckoning raises Minnesota-style alarm as wild schemes exposed
Mundane DOJ Memo on Post Office Gun Bans Is Actually Bigger Deal Than You Think
ICE bought nonlethal shock gloves for officers. Democrats still are not pleased
Americans clash over transgender athletes as debate heats up: ‘Just getting outrageous’
Routine California traffic stop leads to seizure of 30 pounds of cocaine worth more than $800K
New Report Says Chinese Cameras Used in Naval Assets Secretly Sent Data to Communist Country
Alaska runner hospitalized after using bear spray to fight off brown bear on Alaska trail
Nevada man funneled 140 guns to violent Mexican drug cartels, including powerful ‘military-style’ rifles: DOJ
Ex-detective who served fraction of 102-year sentence faces new charges after cold case review
Judge Keeps Major Biden Admin Gun Rule On Ice
Fauci refuses Senate appearance after invoking Fifth Amendment more than 100 times in COVID probe
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.
