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.”
After Dismissing Scandalous Photos, NFL Coach Admits Having ‘Difficult Conversations’ with Family
DOJ Confirms Outrageous Collusion Between Biden Admin and Pro-Abortion Groups to Track, Persecute, and Prosecute Pro-Lifers
House Democrats demand Kash Patel take alcohol test under penalty of perjury after Atlantic report
Minnesota allows ‘happy hour’ in nursing homes under new law easing alcohol restrictions
ICE detains illegal immigrant accused of sexually assaulting minor after hospital parking lot birth
US military launches first-ever autonomous warfare command to deploy unmanned systems across Latin America
Top California Dem running for office tied to Chinese school accused of US diploma scandal
Appeals court rules ‘Alligator Alcatraz’ can stay open, rejecting push for federal environmental impact review
EXCLUSIVE: DHS honors angel families during National Crime Victims Week, calls crimes ‘completely preventable’
Democrats win Virginia redistricting fight, threatening Republican House majority
‘Melrose Place’ and ‘Starship Troopers’ Actor Patrick Muldoon Dies at Age 57
Top House Republican Warns Ilhan Omar That Her Financial Disclosure Revision Won’t Save Her
EXCLUSIVE: Pence warns GOP ‘must deliver,’ or Planned Parenthood gets taxpayer cash on Fourth of July deadline
House Republican Campaign Committee Blows Democrats Away with Historic Fundraising Quarter
Pro-Iran Jimmy Kimmel Mocks Peace Talks, Says He’s ‘More Likely to Believe the Ayatollah’ Than Trump
“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
After Dismissing Scandalous Photos, NFL Coach Admits Having ‘Difficult Conversations’ with Family
DOJ Confirms Outrageous Collusion Between Biden Admin and Pro-Abortion Groups to Track, Persecute, and Prosecute Pro-Lifers
House Democrats demand Kash Patel take alcohol test under penalty of perjury after Atlantic report
Minnesota allows ‘happy hour’ in nursing homes under new law easing alcohol restrictions
ICE detains illegal immigrant accused of sexually assaulting minor after hospital parking lot birth
US military launches first-ever autonomous warfare command to deploy unmanned systems across Latin America
Top California Dem running for office tied to Chinese school accused of US diploma scandal
Appeals court rules ‘Alligator Alcatraz’ can stay open, rejecting push for federal environmental impact review
EXCLUSIVE: DHS honors angel families during National Crime Victims Week, calls crimes ‘completely preventable’
Democrats win Virginia redistricting fight, threatening Republican House majority
‘Melrose Place’ and ‘Starship Troopers’ Actor Patrick Muldoon Dies at Age 57
Top House Republican Warns Ilhan Omar That Her Financial Disclosure Revision Won’t Save Her
EXCLUSIVE: Pence warns GOP ‘must deliver,’ or Planned Parenthood gets taxpayer cash on Fourth of July deadline
House Republican Campaign Committee Blows Democrats Away with Historic Fundraising Quarter
Pro-Iran Jimmy Kimmel Mocks Peace Talks, Says He’s ‘More Likely to Believe the Ayatollah’ Than Trump
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.
