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.”
Military Identifies 2 Soldiers Killed in Texas Helicopter Crash Earlier This Week
Shooting Rocks University Campus as School Prepares for Classes to Resume
Nearly One-in-Six Americans Have Acted on AI Medical Advice Without Speaking to Human, Poll Shows
Florida cold case suspect allegedly confesses to 1987 murder and reveals secret crime-scene details
Virginia State University shooting: At least 5 injured, one critically
ICYMI: Judge Shuts Down Democrats’ Attempt to Rush in Late Votes After Candidates Drop Out
Top Dem operative brushes off latest scandal plaguing Maine Senate candidate as ‘salacious gossip’
DSA brand on trial as El-Sayed struggles where Dems can least afford it
Gun rights gets ‘greatest restoration’ in 100 years with latest Trump DOJ move, lawmaker hails
Socialist in Trump country gives Karl Marx vision thumbs-up before ducking key tax question
Democrats realize they love Haley Stevens, just a little too late
Veteran pediatrician hails Medicaid shift ending youth sex-change treatments: ‘This is not denial of care’
Legal expert calls for Smithsonian leadership overhaul over ‘self-loathing’ portrayal of history: ‘It’s bile’
Man charged with assault, hate crimes after allegedly disrupting Shabbat services at NYC synagogue
Shake Shack worker allegedly calls out before robbing own restaurant, returns in uniform 2 days later
“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
Military Identifies 2 Soldiers Killed in Texas Helicopter Crash Earlier This Week
Shooting Rocks University Campus as School Prepares for Classes to Resume
Nearly One-in-Six Americans Have Acted on AI Medical Advice Without Speaking to Human, Poll Shows
Florida cold case suspect allegedly confesses to 1987 murder and reveals secret crime-scene details
Virginia State University shooting: At least 5 injured, one critically
ICYMI: Judge Shuts Down Democrats’ Attempt to Rush in Late Votes After Candidates Drop Out
Top Dem operative brushes off latest scandal plaguing Maine Senate candidate as ‘salacious gossip’
DSA brand on trial as El-Sayed struggles where Dems can least afford it
Gun rights gets ‘greatest restoration’ in 100 years with latest Trump DOJ move, lawmaker hails
Socialist in Trump country gives Karl Marx vision thumbs-up before ducking key tax question
Democrats realize they love Haley Stevens, just a little too late
Veteran pediatrician hails Medicaid shift ending youth sex-change treatments: ‘This is not denial of care’
Legal expert calls for Smithsonian leadership overhaul over ‘self-loathing’ portrayal of history: ‘It’s bile’
Man charged with assault, hate crimes after allegedly disrupting Shabbat services at NYC synagogue
Shake Shack worker allegedly calls out before robbing own restaurant, returns in uniform 2 days later
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.
