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.”
Jasmine Crockett uses Trump’s ‘Low IQ’ insults to launch her Texas Senate campaign in debut ad
Trump cabinet members do pull-ups at airport to launch $1B family travel program nationwide
Trump threatens 5% tariff on Mexico over water treaty violations affecting Texas farmers
Thune eyes possibility of ‘serious’ Obamacare talks once Democratic bill fails
Watch: Is This Is a Touchdown? ‘Clear As Mud’ Rules Trigger NFL Controversy
Top GOP senator says Crockett announcement exposes how ‘radical’ Dems are nationwide
Indiana redistricting bill clears committee in victory for Trump, heading to full Senate vote
Family sues Royal Caribbean after man allegedly served 33 drinks dies aboard cruise ship
DeSantis Drops the Hammer on Muslim Brotherhood, CAIR: ‘EFFECTIVE IMMEDIATELY’
Kelsey Grammer Defies All of Hollywood, Goes on Record with Glowing Review of Trump
Watch: Jasmine Crockett’s Utterly Bizarre Campaign Kickoff Video Is Nothing but Trump Insulting Her Non-Stop for 45 Seconds
Florida mom says teens ‘lured’ 14-year-old daughter into woods before shooting, setting her on fire: report
Trump complains he can’t ‘appoint anybody’ after Habba resigns as acting US attorney
Hollywood star reveals what he thinks of potential Newsom presidency with two-word response
Fox News Politics Newsletter: Trump critic Jasmine Crockett shakes up Senate race
“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
Jasmine Crockett uses Trump’s ‘Low IQ’ insults to launch her Texas Senate campaign in debut ad
Trump cabinet members do pull-ups at airport to launch $1B family travel program nationwide
Trump threatens 5% tariff on Mexico over water treaty violations affecting Texas farmers
Thune eyes possibility of ‘serious’ Obamacare talks once Democratic bill fails
Watch: Is This Is a Touchdown? ‘Clear As Mud’ Rules Trigger NFL Controversy
Top GOP senator says Crockett announcement exposes how ‘radical’ Dems are nationwide
Indiana redistricting bill clears committee in victory for Trump, heading to full Senate vote
Family sues Royal Caribbean after man allegedly served 33 drinks dies aboard cruise ship
DeSantis Drops the Hammer on Muslim Brotherhood, CAIR: ‘EFFECTIVE IMMEDIATELY’
Kelsey Grammer Defies All of Hollywood, Goes on Record with Glowing Review of Trump
Watch: Jasmine Crockett’s Utterly Bizarre Campaign Kickoff Video Is Nothing but Trump Insulting Her Non-Stop for 45 Seconds
Florida mom says teens ‘lured’ 14-year-old daughter into woods before shooting, setting her on fire: report
Trump complains he can’t ‘appoint anybody’ after Habba resigns as acting US attorney
Hollywood star reveals what he thinks of potential Newsom presidency with two-word response
Fox News Politics Newsletter: Trump critic Jasmine Crockett shakes up Senate race
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.
