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.”
Preliminary autopsy reveals possible cause of death for missing 4-year-old Alabama boy Johnathan Boley
Federal judge blocks Trump from cutting childcare funds to Democratic states over fraud concerns
California driver allegedly kills 2 more people while out on bail for previous fatal crash
Picking the right fight: Congressional tensions rise in wake of Minnesota ICE-involved shooting
Thomas Paine Set America Afire with ‘Common Sense’ 250 Years Ago: Pamphlet Made Case for Revolutionary War
USDA immediately suspends all federal funding to Minnesota amid fraud investigation
California projects $3 billion deficit as outside forecasts show bigger shortfall
‘Jeopardy!’ Host Ken Jennings Wants Trump Administration Jailed, Vows to Vote for Candidate Who Will ‘Prosecute’
Trump administration to investigate refugee status of Minnesota residents
Fox News Politics Newsletter: AOC accuses Vance of believing ‘American people should be assassinated’
Hundreds of opposition members still imprisoned as Venezuela plays nice with Trump
Video: Jasmine Crockett’s Brain Breaks as She Claims Dems Were Civil After Charlie Kirk’s Murder – Let’s Go to the Video Tape
Trump wears ‘happy Trump’ pin alongside American flag during White House oil executive meeting
Shrieking BLM Leader Puts ICE Officers in Additional Danger with Sick ‘Demon’ Claim
Why the FBI can exclude state authorities from Minnesota shooting probe
“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
Preliminary autopsy reveals possible cause of death for missing 4-year-old Alabama boy Johnathan Boley
Federal judge blocks Trump from cutting childcare funds to Democratic states over fraud concerns
California driver allegedly kills 2 more people while out on bail for previous fatal crash
Picking the right fight: Congressional tensions rise in wake of Minnesota ICE-involved shooting
Thomas Paine Set America Afire with ‘Common Sense’ 250 Years Ago: Pamphlet Made Case for Revolutionary War
USDA immediately suspends all federal funding to Minnesota amid fraud investigation
California projects $3 billion deficit as outside forecasts show bigger shortfall
‘Jeopardy!’ Host Ken Jennings Wants Trump Administration Jailed, Vows to Vote for Candidate Who Will ‘Prosecute’
Trump administration to investigate refugee status of Minnesota residents
Fox News Politics Newsletter: AOC accuses Vance of believing ‘American people should be assassinated’
Hundreds of opposition members still imprisoned as Venezuela plays nice with Trump
Video: Jasmine Crockett’s Brain Breaks as She Claims Dems Were Civil After Charlie Kirk’s Murder – Let’s Go to the Video Tape
Trump wears ‘happy Trump’ pin alongside American flag during White House oil executive meeting
Shrieking BLM Leader Puts ICE Officers in Additional Danger with Sick ‘Demon’ Claim
Why the FBI can exclude state authorities from Minnesota shooting probe
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.
