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.”
Top military leaders head to Puerto Rico to thank troops supporting Caribbean missions
Rubio claims ‘tremendous amount of progress’ in Ukraine peace talks following Geneva meeting
Kristi Noem unveils $1B TSA modernization plan, awards $10K bonuses to workers who served during shutdown
Duffy identifies Chicago train victim as 26-year-old Bethany MaGee while blasting city’s ‘carelessness’
DOGE closes eight months early, but principles remain ‘alive and well’
Trump claims GOP has ‘never been so united,’ calls Greene and other Republicans ‘lowlifes’
‘ShamWow’ guy files to run for Congress in Texas as Republican candidate
British teen says urine, glue chucked at him while trying to carry on Charlie Kirk’s legacy in UK
Portion of Catholic students kidnapped in Nigeria escape as country grapples with anti-Christian violence
Scottish Lawmakers Refuse to Ban Shocking ‘Assisted Suicides’
Kennedy cousin tied to Martha Moxley case breaks silence 50 years later as murder remains unsolved
Former TV anchor heads to same prison as Ghislaine Maxwell after $63M COVID fraud conviction
Divine Judgment? Iran Experiencing Record Drought, Tehran Faces Evacuation
X’s new location feature exposes apparent fraudster accounts posing as Americans, Gaza journalists
‘Meta Never Told Parents…’: Court Docs Claim Meta Failed to Prevent Abuse of Minors
“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
Top military leaders head to Puerto Rico to thank troops supporting Caribbean missions
Rubio claims ‘tremendous amount of progress’ in Ukraine peace talks following Geneva meeting
Kristi Noem unveils $1B TSA modernization plan, awards $10K bonuses to workers who served during shutdown
Duffy identifies Chicago train victim as 26-year-old Bethany MaGee while blasting city’s ‘carelessness’
DOGE closes eight months early, but principles remain ‘alive and well’
Trump claims GOP has ‘never been so united,’ calls Greene and other Republicans ‘lowlifes’
‘ShamWow’ guy files to run for Congress in Texas as Republican candidate
British teen says urine, glue chucked at him while trying to carry on Charlie Kirk’s legacy in UK
Portion of Catholic students kidnapped in Nigeria escape as country grapples with anti-Christian violence
Scottish Lawmakers Refuse to Ban Shocking ‘Assisted Suicides’
Kennedy cousin tied to Martha Moxley case breaks silence 50 years later as murder remains unsolved
Former TV anchor heads to same prison as Ghislaine Maxwell after $63M COVID fraud conviction
Divine Judgment? Iran Experiencing Record Drought, Tehran Faces Evacuation
X’s new location feature exposes apparent fraudster accounts posing as Americans, Gaza journalists
‘Meta Never Told Parents…’: Court Docs Claim Meta Failed to Prevent Abuse of Minors
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.
