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.”
US Deportations to El Salvador Double as Bukele, Trump Continue to Clean up Crime in Both Countries
Interrogation video shows trans killer’s calm confession to ambushing parents over gender transition battle
Alarming Change in Middle East Geography Is Setting Stage for the Bible’s Armageddon Prophecy
Bishop Barron contemplates ‘paradox’ of ‘free exercise of religion’ in US ahead of Rededicate 250
Trump, Netanyahu to speak Sunday amid reports of potential revival of military action on Iran
Teen vanished from home decades ago – now feds hope new image and shifting loyalties reveal truth
2026 Oregon primary features a candidate who is a pencil
Trump calls out Rep Thomas Massie: ‘Kentucky, get this LOSER out of politics’ Tuesday
Trump calls out Rep Thomas Massie: ‘Kentucky, get this LOSER out of politics’ Tuesday
Survivors of Plane Crash Off Florida Were Stranded on a Life Raft With No Idea If Help Was Coming
Dem Infighting Worsens as Fingers Start Pointing in Heated California Governor’s Race
Trump threatens to pull Boebert endorsement, calls congresswoman ‘weak minded’ over Massie support
Trump celebrates after UN climate committee moves away from its most extreme global warming scenario
Trump scores major Republican primary victory as Cassidy ousted in Louisiana
Maduro’s alleged ‘bag man’ Alex Saab arrested less than 3 years after Biden pardon: report
“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
US Deportations to El Salvador Double as Bukele, Trump Continue to Clean up Crime in Both Countries
Interrogation video shows trans killer’s calm confession to ambushing parents over gender transition battle
Alarming Change in Middle East Geography Is Setting Stage for the Bible’s Armageddon Prophecy
Bishop Barron contemplates ‘paradox’ of ‘free exercise of religion’ in US ahead of Rededicate 250
Trump, Netanyahu to speak Sunday amid reports of potential revival of military action on Iran
Teen vanished from home decades ago – now feds hope new image and shifting loyalties reveal truth
2026 Oregon primary features a candidate who is a pencil
Trump calls out Rep Thomas Massie: ‘Kentucky, get this LOSER out of politics’ Tuesday
Trump calls out Rep Thomas Massie: ‘Kentucky, get this LOSER out of politics’ Tuesday
Survivors of Plane Crash Off Florida Were Stranded on a Life Raft With No Idea If Help Was Coming
Dem Infighting Worsens as Fingers Start Pointing in Heated California Governor’s Race
Trump threatens to pull Boebert endorsement, calls congresswoman ‘weak minded’ over Massie support
Trump celebrates after UN climate committee moves away from its most extreme global warming scenario
Trump scores major Republican primary victory as Cassidy ousted in Louisiana
Maduro’s alleged ‘bag man’ Alex Saab arrested less than 3 years after Biden pardon: report
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.
