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.”
‘Severe’ Pentagon lockdown sparks emergency response as hazmat teams sweep area
WATCH: Trump DHS escalates pressure over migrant child warnings it says Biden ignored: ‘Move heaven and hell’
Gordie Howe bridge opening pushed back over unnamed ‘issues’ after Trump-Canada feud
Austin Metcalf’s dad expresses empathy for Karmelo Anthony as killer’s parents say ‘they did a number on us’
DOJ accuses Jamaican woman of committing marriage fraud and lying to boost disability benefits
WATCH: Philadelphia police release new video of two suspects in Penn State student’s fatal robbery
Breaking: Trump Says US Will Seize Iranian Territory and ‘Assume Total Control of Their Oil and Gas Markets’
Outrageous: Black Advocates Move to Have Austin Metcalf’s Brother Arrested, Charged as Accessory to Murder
Chip Roy fields proposal to block pay and power for longtime lawmakers
Second Amendment fights grow across several states over 3D-printed gun laws
DEADLY PHOTO: We Now Know What Karmelo Anthony’s Knife Looked Like, and It Was No Quaint Leatherman Multitool
LGBT People Surge Into Seattle from Republican States, Demand More Public Resources
Spencer Pratt’s Los Angeles mayor run ends in defeat, but the spotlight stays on
Toledo police name suspect Ka Nye Taylor in festival shooting that injured 12, hunt second gunman
Prosecutors won’t seek death penalty in Minnesota Democrat’s assassination
“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
‘Severe’ Pentagon lockdown sparks emergency response as hazmat teams sweep area
WATCH: Trump DHS escalates pressure over migrant child warnings it says Biden ignored: ‘Move heaven and hell’
Gordie Howe bridge opening pushed back over unnamed ‘issues’ after Trump-Canada feud
Austin Metcalf’s dad expresses empathy for Karmelo Anthony as killer’s parents say ‘they did a number on us’
DOJ accuses Jamaican woman of committing marriage fraud and lying to boost disability benefits
WATCH: Philadelphia police release new video of two suspects in Penn State student’s fatal robbery
Breaking: Trump Says US Will Seize Iranian Territory and ‘Assume Total Control of Their Oil and Gas Markets’
Outrageous: Black Advocates Move to Have Austin Metcalf’s Brother Arrested, Charged as Accessory to Murder
Chip Roy fields proposal to block pay and power for longtime lawmakers
Second Amendment fights grow across several states over 3D-printed gun laws
DEADLY PHOTO: We Now Know What Karmelo Anthony’s Knife Looked Like, and It Was No Quaint Leatherman Multitool
LGBT People Surge Into Seattle from Republican States, Demand More Public Resources
Spencer Pratt’s Los Angeles mayor run ends in defeat, but the spotlight stays on
Toledo police name suspect Ka Nye Taylor in festival shooting that injured 12, hunt second gunman
Prosecutors won’t seek death penalty in Minnesota Democrat’s assassination
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.
