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.”
Vance en route to Pakistan for high-stakes Iran talks as ‘fragile’ ceasefire teeters
Late Breaking: Dem Leader Jeffries Calls on Swalwell to Drop Out of California Gov Race After Sex Abuse Allegations, Doesn’t Demand Resignation from House
Unusually High Number of Chinese Navy Ships Hit Seas as US Remains Laser Focused on Iran
Epstein survivors push back on Melania Trump hearing call as Comer vows ‘we will have hearings’
Breaking: NASA, Navy Personnel Rush to Recover Artemis II Astronauts After Pacific Ocean Landing
Sen Tim Sheehy makes emergency landing after in-flight engine failure
Pelosi, California Dems slam Swalwell over bombshell sexual assault allegations: ‘Indefensible’
Washington Post Journalist Pleads Guilty in Child Porn Case
Soviet-Era Groups Work to Win American Hearts for Another Communist Regime
Swalwell’s former female staffer drops bombshell allegations of sexual assault, exposing himself: report
Voters Oust Half of Missouri City Council for Greenlighting $6,000,000,000 AI Data Center
Trump’s birthright citizenship crusade draws backing from cohort of prominent legal scholars
Planned Parenthood Lost More Money Than It Made as Taxpayer Funding, Abortions Increased
Wes Moore preemptively unloads on Baltimore Sun ahead of expose, as spox beefs with ‘right wing’ ownership
Ex-staffer claims Swalwell sexually assaulted her. He denies allegations
“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
Vance en route to Pakistan for high-stakes Iran talks as ‘fragile’ ceasefire teeters
Late Breaking: Dem Leader Jeffries Calls on Swalwell to Drop Out of California Gov Race After Sex Abuse Allegations, Doesn’t Demand Resignation from House
Unusually High Number of Chinese Navy Ships Hit Seas as US Remains Laser Focused on Iran
Epstein survivors push back on Melania Trump hearing call as Comer vows ‘we will have hearings’
Breaking: NASA, Navy Personnel Rush to Recover Artemis II Astronauts After Pacific Ocean Landing
Sen Tim Sheehy makes emergency landing after in-flight engine failure
Pelosi, California Dems slam Swalwell over bombshell sexual assault allegations: ‘Indefensible’
Washington Post Journalist Pleads Guilty in Child Porn Case
Soviet-Era Groups Work to Win American Hearts for Another Communist Regime
Swalwell’s former female staffer drops bombshell allegations of sexual assault, exposing himself: report
Voters Oust Half of Missouri City Council for Greenlighting $6,000,000,000 AI Data Center
Trump’s birthright citizenship crusade draws backing from cohort of prominent legal scholars
Planned Parenthood Lost More Money Than It Made as Taxpayer Funding, Abortions Increased
Wes Moore preemptively unloads on Baltimore Sun ahead of expose, as spox beefs with ‘right wing’ ownership
Ex-staffer claims Swalwell sexually assaulted her. He denies allegations
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.
