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.”
Georgia Republicans head to runoff in secretary of state race defined by 2020 election claims
DHS blasts California sanctuary policies after jail releases illegal immigrant accused in hit-and-run
Squad-endorsed socialist wins heated primary to represent America’s birthplace
Former top Oregon GOP official secures nomination for governor as Republicans target blue-state pickup
Trump-backed senator cruises to primary win, setting up potential 4th term
Man accused of killing partner arrested in Mexico nearly two years after fleeing with their two children
Bob Brooks wins Pennsylvania’s 7th District primary to take on Ryan Mackenzie in general election
Three stabbed at crowded Rhode Island beach as hundreds of teens pack area, police say
Bob Harvie wins Pennsylvania’s 1st District primary to set showdown with Brian Fitzpatrick
Trump ally Tommy Tuberville cruises to Alabama GOP governor nomination
Kentucky physician advances to general election after receiving glowing Trump endorsement: ‘True friend’
Pentagon cuts Brigade Combat Teams in Europe as Trump pressures NATO on spending
Stelson-Perry rematch set in Pennsylvania’s 10th District
Gallup Poll: Americans Would Rather Live Near a Nuclear Power Plant Than an AI Data Center
Breaking: Thomas Massie Loses to Trump-Backed Ed Gallrein in Hotly Contested Primary
“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
Georgia Republicans head to runoff in secretary of state race defined by 2020 election claims
DHS blasts California sanctuary policies after jail releases illegal immigrant accused in hit-and-run
Squad-endorsed socialist wins heated primary to represent America’s birthplace
Former top Oregon GOP official secures nomination for governor as Republicans target blue-state pickup
Trump-backed senator cruises to primary win, setting up potential 4th term
Man accused of killing partner arrested in Mexico nearly two years after fleeing with their two children
Bob Brooks wins Pennsylvania’s 7th District primary to take on Ryan Mackenzie in general election
Three stabbed at crowded Rhode Island beach as hundreds of teens pack area, police say
Bob Harvie wins Pennsylvania’s 1st District primary to set showdown with Brian Fitzpatrick
Trump ally Tommy Tuberville cruises to Alabama GOP governor nomination
Kentucky physician advances to general election after receiving glowing Trump endorsement: ‘True friend’
Pentagon cuts Brigade Combat Teams in Europe as Trump pressures NATO on spending
Stelson-Perry rematch set in Pennsylvania’s 10th District
Gallup Poll: Americans Would Rather Live Near a Nuclear Power Plant Than an AI Data Center
Breaking: Thomas Massie Loses to Trump-Backed Ed Gallrein in Hotly Contested Primary
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.
