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.”
Phoenix gas station murder suspect had weapons charge tossed before fatal shooting, records show
California ‘party mom’ accused of grooming victims for sex, drinking in ritzy mansion, teens testify at trial
‘Bond villain’: Newsom roasted as photo of him posing with ‘sugar daddy’ Alex Soros goes viral
Watch: House Democrat Makes Spectacularly Hypocritical Argument Against Holding the Clintons in Contempt of Congress
Here Are the 9 Dems Who Voted to Hold Clintons in Contempt – 2 Are Jaw-Droppers Few People Ever Saw Coming
Former special counsel Jack Smith to testify publicly over Trump investigations
Trump and world leaders sign Gaza Board of Peace charter
A rare filing in the Lisa Cook–Trump case could sway Supreme Court justices
Congress strikes rare agreement on Chinese espionage threats to US drivers
US immigration authorities allow suspect in $100M jewelry heist to self-deport before trial
Judge rules NYC’s lone Republican congressional district unconstitutional, orders redraw
Rahm Emanuel calls for mandatory retirement age of 75 for people in public office
Teen mass killer pleads guilty to NC rampage that left five dead, including brother, police officer
Barron Trump Saved a Woman’s Life as She Was Being Beaten by Her Boyfriend in UK, Reported Victim Says
Organizer of GoFundMe for ‘agitating the Nazis’ involved in anti-ICE uprising at Minneapolis church
“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
Phoenix gas station murder suspect had weapons charge tossed before fatal shooting, records show
California ‘party mom’ accused of grooming victims for sex, drinking in ritzy mansion, teens testify at trial
‘Bond villain’: Newsom roasted as photo of him posing with ‘sugar daddy’ Alex Soros goes viral
Watch: House Democrat Makes Spectacularly Hypocritical Argument Against Holding the Clintons in Contempt of Congress
Here Are the 9 Dems Who Voted to Hold Clintons in Contempt – 2 Are Jaw-Droppers Few People Ever Saw Coming
Former special counsel Jack Smith to testify publicly over Trump investigations
Trump and world leaders sign Gaza Board of Peace charter
A rare filing in the Lisa Cook–Trump case could sway Supreme Court justices
Congress strikes rare agreement on Chinese espionage threats to US drivers
US immigration authorities allow suspect in $100M jewelry heist to self-deport before trial
Judge rules NYC’s lone Republican congressional district unconstitutional, orders redraw
Rahm Emanuel calls for mandatory retirement age of 75 for people in public office
Teen mass killer pleads guilty to NC rampage that left five dead, including brother, police officer
Barron Trump Saved a Woman’s Life as She Was Being Beaten by Her Boyfriend in UK, Reported Victim Says
Organizer of GoFundMe for ‘agitating the Nazis’ involved in anti-ICE uprising at Minneapolis church
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.
