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.”
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific
Judge orders ICE to free Wisconsin mosque leader over ‘substantial’ free speech claim after criticizing Israel
Illegal Alien Who Raped the Body of a Dead Man for 30 Minutes on NYC Subway Learns His Fate
Top GOP lawmaker rallies around conservative school board member facing calls to resign
Comedian Carlos Mencia Facing Criminal Charges in LA, District Attorney Announces
Man fired by firm after viral video shows him scolding dad for taking young daughters into women’s restroom
Rutte urges NATO countries to take advantage of Ukrainian ‘window of opportunity’
Obama Center’s opening ceremony ridiculed for far-left ritual before star-studded show
Florida man indicted for allegedly plotting mass shooting targeting Jewish employees at advocacy organization
WATCH: Dem candidate grilled on stock trading after being duped with selfie request
Video: 2 Black Teens Rob White Kids’ Lemonade Stand at Gunpoint… as Race-Baiters Demand ‘Justice’ for So-Called White Oppression
Read It: The Spiteful 3-Word Tweet That Cost California Liberals Up to $100 Billion and Elon Musk
“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
Will Dems’ targeting of California GOP-turned-Indie congressman ‘Pan’ out?
Interest rate cut not likely on the table, even after Iran deal and somewhat falling oil prices
UN’s Albanese faces uphill battle with First Amendment case seeking to end sanctions against her
US military kills three ‘narco-terrorists’ in latest lethal strike on vessel in the Eastern Pacific
Judge orders ICE to free Wisconsin mosque leader over ‘substantial’ free speech claim after criticizing Israel
Illegal Alien Who Raped the Body of a Dead Man for 30 Minutes on NYC Subway Learns His Fate
Top GOP lawmaker rallies around conservative school board member facing calls to resign
Comedian Carlos Mencia Facing Criminal Charges in LA, District Attorney Announces
Man fired by firm after viral video shows him scolding dad for taking young daughters into women’s restroom
Rutte urges NATO countries to take advantage of Ukrainian ‘window of opportunity’
Obama Center’s opening ceremony ridiculed for far-left ritual before star-studded show
Florida man indicted for allegedly plotting mass shooting targeting Jewish employees at advocacy organization
WATCH: Dem candidate grilled on stock trading after being duped with selfie request
Video: 2 Black Teens Rob White Kids’ Lemonade Stand at Gunpoint… as Race-Baiters Demand ‘Justice’ for So-Called White Oppression
Read It: The Spiteful 3-Word Tweet That Cost California Liberals Up to $100 Billion and Elon Musk
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.
