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.”
Nancy Guthrie investigators see uptick in tips after ransom notes release: Sheriff
Alex Murdaugh demands new evidence search in hunt for cracks in case
Blanche’s Attorney General Confirmation Hanging in the Balance After 2nd Republican Announces Opposition
Mother of Slain Citadel Cadet Speaks Out After Repeat Criminal Is Arrested for His Murder
Resurfaced Mamdani interview ignites internet frenzy over alleged ‘fake’ Ugandan accent
Anti-abortion groups applaud Blanche review of Biden DOJ policy on mailing abortion drugs
GOP senator deals crushing blow to Trump’s AG nominee after Alaska lobbying blitz
What Do Jesus and the Bible Have to Say About Socialism?
Trump-backed incumbent ousted in House primary as GOP redistricting push set to reshape Tennessee
Trump’s Smithsonian clash exposes striking pattern among museum curators
Trump-backed incumbent loses primary after super PAC bankrolled by Dems meddled in race
Mamdani repeatedly sidesteps questions on reported plan to revive tax hikes on wealthy New Yorkers
Retired police chief helps subdue passenger after alleged midair outburst over alcohol cutoff
Squad-backed ‘Tennessee Three’ lawmaker wins House primary in newly redrawn district
Conservative firebrand who went viral with anti-CCP ad survives key 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
Nancy Guthrie investigators see uptick in tips after ransom notes release: Sheriff
Alex Murdaugh demands new evidence search in hunt for cracks in case
Blanche’s Attorney General Confirmation Hanging in the Balance After 2nd Republican Announces Opposition
Mother of Slain Citadel Cadet Speaks Out After Repeat Criminal Is Arrested for His Murder
Resurfaced Mamdani interview ignites internet frenzy over alleged ‘fake’ Ugandan accent
Anti-abortion groups applaud Blanche review of Biden DOJ policy on mailing abortion drugs
GOP senator deals crushing blow to Trump’s AG nominee after Alaska lobbying blitz
What Do Jesus and the Bible Have to Say About Socialism?
Trump-backed incumbent ousted in House primary as GOP redistricting push set to reshape Tennessee
Trump’s Smithsonian clash exposes striking pattern among museum curators
Trump-backed incumbent loses primary after super PAC bankrolled by Dems meddled in race
Mamdani repeatedly sidesteps questions on reported plan to revive tax hikes on wealthy New Yorkers
Retired police chief helps subdue passenger after alleged midair outburst over alcohol cutoff
Squad-backed ‘Tennessee Three’ lawmaker wins House primary in newly redrawn district
Conservative firebrand who went viral with anti-CCP ad survives key 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.
