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.”
Liberal circuit judge blasts SCOTUS conservatives, says Hawaii will defy high court
Rubio Goes Viral as Millions Watch, Share His Rousing Speech on the Evils of the Modern Left
Caitlin Clark Sets Scoring Record with Monster 45-Point Game in Comeback Win
Stephen Miller says Trump administration is pursuing policy to debank illegal immigrants
Dave Portnoy Shocked by People Who Fled ‘Countries That Are Disasters’ Spreading Socialism Across US
Two US service members killed in Iranian strikes on Jordan, CENTCOM says
Maine Dem Opens Fundraising Pitch By Saying ICE Shooting Caused Her to Freeze Up During Debate
Kentucky governor says he received 2 calls from agencies indicating McConnell had ‘passed’
Far-left activist conference at teachers union HQ raises classroom concerns
California man admits targeting 3 Subway restaurants for robberies in less than a week, FBI says
Pratt takes Walz to task in scathing X post over pardoned child rapist: ‘Have your hard drives checked’
US forest service workers kidnapped, ziptied for hours by father-son duo: California AG
New Poll Suggests Jewish Americans Feel Isolated As Antisemitism Grows
Federal employees can download TikTok on government devices after ByteDance’s divestiture, DOJ says
$225,000,000 In ‘Hideous’ Fraud Schemes Found Across US Schools, Report Alleges
“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
Liberal circuit judge blasts SCOTUS conservatives, says Hawaii will defy high court
Rubio Goes Viral as Millions Watch, Share His Rousing Speech on the Evils of the Modern Left
Caitlin Clark Sets Scoring Record with Monster 45-Point Game in Comeback Win
Stephen Miller says Trump administration is pursuing policy to debank illegal immigrants
Dave Portnoy Shocked by People Who Fled ‘Countries That Are Disasters’ Spreading Socialism Across US
Two US service members killed in Iranian strikes on Jordan, CENTCOM says
Maine Dem Opens Fundraising Pitch By Saying ICE Shooting Caused Her to Freeze Up During Debate
Kentucky governor says he received 2 calls from agencies indicating McConnell had ‘passed’
Far-left activist conference at teachers union HQ raises classroom concerns
California man admits targeting 3 Subway restaurants for robberies in less than a week, FBI says
Pratt takes Walz to task in scathing X post over pardoned child rapist: ‘Have your hard drives checked’
US forest service workers kidnapped, ziptied for hours by father-son duo: California AG
New Poll Suggests Jewish Americans Feel Isolated As Antisemitism Grows
Federal employees can download TikTok on government devices after ByteDance’s divestiture, DOJ says
$225,000,000 In ‘Hideous’ Fraud Schemes Found Across US Schools, Report Alleges
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.
