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.”
‘I Just Wanted to Go Home to Jesus’ – Kathie Lee Gifford Opens Up About Health Challenges
Illegal immigrant sentenced after fiery California semitruck crash killed 3
ICE officer hailed as hero after saving driver injured in Missouri crash
Bank robbery suspect allegedly steals kitten, asks employee to hold it before demanding cash
Multiple rescued from pontoon boat near Alcatraz as search continues for missing persons
Biden special counsel’s ‘runaway train’ scooped up sensitive lawmaker info: ‘Abuse of power’
Congressman sounds the alarm on China: ‘We’re sleepwalking through this competition’
Shock Video: Machete Fight Breaks Out in Middle of England Intersection, Man Recording Says This Insanity Happens ‘Day In and Day Out’
House passes daylight saving time reform as Trump signals support for ending clock change
How long can Iran play its energy card?
WATCH: Elissa Slotkin says SAVE America Act would make it ‘hard for any Democrat’ to win an election
Florida men indicted in armed home invasion where suspect posed as utility worker, 13-year-old zip-tied: DOJ
California inmate who spent 45 years on death row for murdering pregnant wife dies
Punks Beat Pro Poker Winner Back to His Airbnb, Ambushed and Hogtied Him, Stole All His Winnings
Trump revives his decades-old Iran warning as US ramps up military pressure: ‘remarkably consistent’
“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
‘I Just Wanted to Go Home to Jesus’ – Kathie Lee Gifford Opens Up About Health Challenges
Illegal immigrant sentenced after fiery California semitruck crash killed 3
ICE officer hailed as hero after saving driver injured in Missouri crash
Bank robbery suspect allegedly steals kitten, asks employee to hold it before demanding cash
Multiple rescued from pontoon boat near Alcatraz as search continues for missing persons
Biden special counsel’s ‘runaway train’ scooped up sensitive lawmaker info: ‘Abuse of power’
Congressman sounds the alarm on China: ‘We’re sleepwalking through this competition’
Shock Video: Machete Fight Breaks Out in Middle of England Intersection, Man Recording Says This Insanity Happens ‘Day In and Day Out’
House passes daylight saving time reform as Trump signals support for ending clock change
How long can Iran play its energy card?
WATCH: Elissa Slotkin says SAVE America Act would make it ‘hard for any Democrat’ to win an election
Florida men indicted in armed home invasion where suspect posed as utility worker, 13-year-old zip-tied: DOJ
California inmate who spent 45 years on death row for murdering pregnant wife dies
Punks Beat Pro Poker Winner Back to His Airbnb, Ambushed and Hogtied Him, Stole All His Winnings
Trump revives his decades-old Iran warning as US ramps up military pressure: ‘remarkably consistent’
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.
