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.”
‘Not Alaska First’: Peltola’s Green New Deal allies draw scrutiny in Alaska Senate bid
Hegseth says US strikes force some cartel leaders to halt drug operations
Can the late shah’s son sell the Trump administration on leading a postcleric regime in Iran?
Proposed California ‘wealth tax’ may backfire on liberal politicians as state’s revenue base dries up
Minnesota green energy program funded by Obama fined for killing bald eagle: ‘National treasure’
US forces kill two suspected narco-terrorists in Eastern Pacific lethal strike operation
Harvey Levin gives explosive update on purported Nancy Levin ransom note on ‘Hannity’
Fox News True Crime Newsletter: No suspects identified in disappearance of Nancy Guthrie as deadline passes
Civil rights groups issue Florida travel advisory for FIFA World Cup over immigration enforcement tactics
White House slams Democrat governor for urging public to track ICE agents with new video portal
Boston’s Wu orders release of ICE surveillance and bodycam footage, says fed government ‘hides behind masks’
Baltimore Mayor Plays the Race Card After Being Called Out on His $163,495 Taxpayer-Funded Vehicle
FDA relaxes labeling rules on ‘no artificial colors’ claims amid crackdown
DHS says anti-ICE agitators helped child rapists, gang members evade deportation
Kamala Harris Gives Clearest Indication Yet That She’s Running in 2028, Restarts 2024 Machine
“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
‘Not Alaska First’: Peltola’s Green New Deal allies draw scrutiny in Alaska Senate bid
Hegseth says US strikes force some cartel leaders to halt drug operations
Can the late shah’s son sell the Trump administration on leading a postcleric regime in Iran?
Proposed California ‘wealth tax’ may backfire on liberal politicians as state’s revenue base dries up
Minnesota green energy program funded by Obama fined for killing bald eagle: ‘National treasure’
US forces kill two suspected narco-terrorists in Eastern Pacific lethal strike operation
Harvey Levin gives explosive update on purported Nancy Levin ransom note on ‘Hannity’
Fox News True Crime Newsletter: No suspects identified in disappearance of Nancy Guthrie as deadline passes
Civil rights groups issue Florida travel advisory for FIFA World Cup over immigration enforcement tactics
White House slams Democrat governor for urging public to track ICE agents with new video portal
Boston’s Wu orders release of ICE surveillance and bodycam footage, says fed government ‘hides behind masks’
Baltimore Mayor Plays the Race Card After Being Called Out on His $163,495 Taxpayer-Funded Vehicle
FDA relaxes labeling rules on ‘no artificial colors’ claims amid crackdown
DHS says anti-ICE agitators helped child rapists, gang members evade deportation
Kamala Harris Gives Clearest Indication Yet That She’s Running in 2028, Restarts 2024 Machine
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.
