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.”
Obama Presidential Center follows widely-mocked ‘stolen land’ acknowledgment with Native American dance show
Manhunt underway for Kansas City shooting spree suspect near World Cup venue; FBI offering $25K reward
US Park Police arrest former Olympian for vandalism of Reflecting Pool
Obama Center embeds ‘Indigenous’ land message on controversial site
Dem who sued to remove Trump’s name from Kennedy Center now says venue becoming ‘lifeless husk’ in fresh fight
Biden scores temporary court victory as Trump-appointed judge delays release of Hur investigation materials
Breaking: Iran Closes Strait of Hormuz, Threatens End to Peace Talks
Soccer Fan Accuses Israel of Killing Palestinian Team, Pathetically Falls Apart After Learning Palestinians Slaughtered Israeli Team in 1972
Trump blames ABC reporter and vandals for peeling Reflecting Pool and algae growth
Revamped Reflecting Pool Damaged by ‘Radical Left Lunatics,’ Trump Says
Texas Surges Past California in Key Sign of Business Influence
Trump says Meloni ‘wants to be friends again’ after Italy refused to help US amid Iran war
Vance says ‘United States wins either way’ as he defends Trump’s Iran deal against GOP skeptics
Please Clap: Bush Family Member’s Electoral Failure in Maine Is More Evidence RINO Establishment Is Dead
War Department Whittles Down Number of ‘Religions’ It Recognizes
“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
Obama Presidential Center follows widely-mocked ‘stolen land’ acknowledgment with Native American dance show
Manhunt underway for Kansas City shooting spree suspect near World Cup venue; FBI offering $25K reward
US Park Police arrest former Olympian for vandalism of Reflecting Pool
Obama Center embeds ‘Indigenous’ land message on controversial site
Dem who sued to remove Trump’s name from Kennedy Center now says venue becoming ‘lifeless husk’ in fresh fight
Biden scores temporary court victory as Trump-appointed judge delays release of Hur investigation materials
Breaking: Iran Closes Strait of Hormuz, Threatens End to Peace Talks
Soccer Fan Accuses Israel of Killing Palestinian Team, Pathetically Falls Apart After Learning Palestinians Slaughtered Israeli Team in 1972
Trump blames ABC reporter and vandals for peeling Reflecting Pool and algae growth
Revamped Reflecting Pool Damaged by ‘Radical Left Lunatics,’ Trump Says
Texas Surges Past California in Key Sign of Business Influence
Trump says Meloni ‘wants to be friends again’ after Italy refused to help US amid Iran war
Vance says ‘United States wins either way’ as he defends Trump’s Iran deal against GOP skeptics
Please Clap: Bush Family Member’s Electoral Failure in Maine Is More Evidence RINO Establishment Is Dead
War Department Whittles Down Number of ‘Religions’ It Recognizes
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.
