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.”
ICE arrests in Minnesota surge include numerous convicted child rapists, killers
Woman Jailed After Gruesome Discovery Made in Light Bulb Box Buried in Back Yard
Pure Evil: Court Docs Claim Virginia Dem. Official Tried Getting Sexual Access to 9-Year-Old Boy… and then the Comments About Toddlers Started
One Agency Tried to Stop the Somali Welfare Fraud as Early as 2020, but Activists Used DEI to Intimidate It Into Silence
After Ayatollah Strikes Back at Trump and Says He’ll Fall From ‘The Peak of His Hubris,’ X Users Add Epic Community Note
Crowd-for-hire boss rejects Minneapolis unrest as illegal chaos
US military launches airstrikes against ISIS targets in Syria, officials say
State Department declares ‘international bureaucracies’ will no longer get ‘blank checks’ from the US
Four tankers that left Venezuela in ‘dark mode’ return as US eyes the country’s oil
Luxury Car Company Recalls Hundreds of Thousands of Cars Over Rearview Camera Defect
Trump signs order to protect Venezuela oil revenue held in US accounts
‘Stranger Things’ Directors Defend ‘Coming Out’ Scene That Had Fans Outraged
Christmas Drone Strike Killed 11 Christians in War-Torn African Nation
Major Trump Advisor Declares Which Major Red State City Will Replace NYC as Financial Capitol Thanks to Mamdani
Brown University shooting videos show awareness and planning, experts say
“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
ICE arrests in Minnesota surge include numerous convicted child rapists, killers
Woman Jailed After Gruesome Discovery Made in Light Bulb Box Buried in Back Yard
Pure Evil: Court Docs Claim Virginia Dem. Official Tried Getting Sexual Access to 9-Year-Old Boy… and then the Comments About Toddlers Started
One Agency Tried to Stop the Somali Welfare Fraud as Early as 2020, but Activists Used DEI to Intimidate It Into Silence
After Ayatollah Strikes Back at Trump and Says He’ll Fall From ‘The Peak of His Hubris,’ X Users Add Epic Community Note
Crowd-for-hire boss rejects Minneapolis unrest as illegal chaos
US military launches airstrikes against ISIS targets in Syria, officials say
State Department declares ‘international bureaucracies’ will no longer get ‘blank checks’ from the US
Four tankers that left Venezuela in ‘dark mode’ return as US eyes the country’s oil
Luxury Car Company Recalls Hundreds of Thousands of Cars Over Rearview Camera Defect
Trump signs order to protect Venezuela oil revenue held in US accounts
‘Stranger Things’ Directors Defend ‘Coming Out’ Scene That Had Fans Outraged
Christmas Drone Strike Killed 11 Christians in War-Torn African Nation
Major Trump Advisor Declares Which Major Red State City Will Replace NYC as Financial Capitol Thanks to Mamdani
Brown University shooting videos show awareness and planning, experts say
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.
