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.”
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
What’s on the menu for Trump’s state dinner with China’s Xi? One American staple is notably missing
Watch: ‘Oh, My God! Why Are We Saying “Free Palestine” Then?’ LGBT Activist Learns Muslims She’s Cheering for Hate Gays
Angel mom says blue state DAs are putting illegal immigrant criminals before public safety
Breaking: Man Wounded During Trump Assassination Attempt in Butler Dies 2 Years Later at 76
Netanyahu fires in all directions at UN, rebuking critics for ‘lies about my country’ as scores of delegates walk out
El Sayed’s Iran and 9/11 problems keep growing
WATCH: Mass walkout before Netanyahu speech prompts fiery response from Israeli prime minister
Iowa teacher, 10-year-old student die during fifth grade school field trip at Lake Macbride State Park
Report: Suspected Site of Noah’s Ark ‘100 Percent Confirmed’ to Be a ‘Manmade Object’
Sophie Cunningham Sends Message to Trans Mob and Her Critics, Telling Them to ‘Kick Rocks’ with Pre-Game Sweatshirt
Canadian PM Carney says he was prepared for Trump ordering invasion
Soros-linked prosecutor faces primary challenge as fellow Democrat targets his record
Todd Blanche vows Supreme Court appeal after court blocks third-country deportations
Reform slips behind Labour and Conservatives in latest voter poll thanks to ‘Burnham bounce’
“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
DOJ announces $25 million ANGEL grant program as it hosts violent crime victims
What’s on the menu for Trump’s state dinner with China’s Xi? One American staple is notably missing
Watch: ‘Oh, My God! Why Are We Saying “Free Palestine” Then?’ LGBT Activist Learns Muslims She’s Cheering for Hate Gays
Angel mom says blue state DAs are putting illegal immigrant criminals before public safety
Breaking: Man Wounded During Trump Assassination Attempt in Butler Dies 2 Years Later at 76
Netanyahu fires in all directions at UN, rebuking critics for ‘lies about my country’ as scores of delegates walk out
El Sayed’s Iran and 9/11 problems keep growing
WATCH: Mass walkout before Netanyahu speech prompts fiery response from Israeli prime minister
Iowa teacher, 10-year-old student die during fifth grade school field trip at Lake Macbride State Park
Report: Suspected Site of Noah’s Ark ‘100 Percent Confirmed’ to Be a ‘Manmade Object’
Sophie Cunningham Sends Message to Trans Mob and Her Critics, Telling Them to ‘Kick Rocks’ with Pre-Game Sweatshirt
Canadian PM Carney says he was prepared for Trump ordering invasion
Soros-linked prosecutor faces primary challenge as fellow Democrat targets his record
Todd Blanche vows Supreme Court appeal after court blocks third-country deportations
Reform slips behind Labour and Conservatives in latest voter poll thanks to ‘Burnham bounce’
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.
