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.”
Fox News Campus Radicals Newsletter: UCLA mob mess, veiled threats of violence and a major win over DEI
NFL Legend and Hall of Famer Abruptly Hospitalized, Lawyer and Friend Issues Update
Trump Admin Throws Out Obama-Era Gender Rule in Favor of ‘What the Lord Established from the Beginning’
Florida Dem filed for re-election days before resignation as House Ethics Committee ramped up pressure
Poll Shows Young People Fleeing Major Dem City Due to Cost of Living, Safety, And Jobs
NANNY STATE: UK Slaps Nation’s Youth with Permanent Lifetime Smoking Ban
Grinning suspect cuffed after alleged fiery street takeover, drag race caught on camera
Texas substitute teacher accused of improper relationship with student, alarming parents
Incredible Video: Skycam Catches Massive Tornado Narrowly Missing Oklahoma Town During Violent Storm Outbreak
Trump Gives LA Mayor Karen Bass Special Copy of Bible During Oval Office Meeting
Mamdani in the hot seat after first veto derails bipartisan effort to combat antisemitism: ‘Disappointed’
Transgender lawmaker ‘doesn’t know what a woman is,’ White House says after dig at Trump firings
Hakeem Jeffries left scrambling after child reporter asks why voters view Democrats so negatively
Rob Reiner’s Oldest Son Speaks Out for First Time Since Parents’ Death: ‘Too Impossible to Process’
Israel Appoints Its First Ever ‘Special Envoy to Christian World’ After Controversial Incidents
“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
Fox News Campus Radicals Newsletter: UCLA mob mess, veiled threats of violence and a major win over DEI
NFL Legend and Hall of Famer Abruptly Hospitalized, Lawyer and Friend Issues Update
Trump Admin Throws Out Obama-Era Gender Rule in Favor of ‘What the Lord Established from the Beginning’
Florida Dem filed for re-election days before resignation as House Ethics Committee ramped up pressure
Poll Shows Young People Fleeing Major Dem City Due to Cost of Living, Safety, And Jobs
NANNY STATE: UK Slaps Nation’s Youth with Permanent Lifetime Smoking Ban
Grinning suspect cuffed after alleged fiery street takeover, drag race caught on camera
Texas substitute teacher accused of improper relationship with student, alarming parents
Incredible Video: Skycam Catches Massive Tornado Narrowly Missing Oklahoma Town During Violent Storm Outbreak
Trump Gives LA Mayor Karen Bass Special Copy of Bible During Oval Office Meeting
Mamdani in the hot seat after first veto derails bipartisan effort to combat antisemitism: ‘Disappointed’
Transgender lawmaker ‘doesn’t know what a woman is,’ White House says after dig at Trump firings
Hakeem Jeffries left scrambling after child reporter asks why voters view Democrats so negatively
Rob Reiner’s Oldest Son Speaks Out for First Time Since Parents’ Death: ‘Too Impossible to Process’
Israel Appoints Its First Ever ‘Special Envoy to Christian World’ After Controversial Incidents
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.
