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.”
Haitian Illegal Immigrant Who Went Viral for Shouting ‘Biden Forever!’ During Arrest Deported by ICE
Thomas Massie Says He Intentionally Blindsided House Leaders When Filing Hegseth Impeachment Articles
‘Worse than Watergate’ New FBI files detail agent’s push to join Trump probe, investigate Elon Musk
5 states could be the biggest losers in Trump’s trade war with Canada, expert warns
Injured Louisiana boy hailed a ‘superhero’ for seeking help during deadly stabbing rampage
Florida woman allegedly drugs man she met at club, steals his nearly $100K Rolex: police
Muslim Mayor of Dearborn Invites Rapper Booted from Stadium Tour Over Anti-Israel Rant to Perform in City
International protests break out over rising oil and gas costs
Internet Trolls Karen Bass After She Deflects Blame for City’s Crumbling Roads
EU wants Canada to be its first associate member
Most of School’s 9/11 Curriculum Focuses on Muslim Acceptance, Teachers Told Not to ‘Center’ on the Terrorists
Congress faces AI test as debate explodes over industry regulation
El-Sayed grilled on Piker, Israel and socialist ties after Mike Rogers skips Senate debate
US military releases footage of massive operation to rescue injured airman stranded inside Iran
Multiple death sentences in different states are set to be carried out within 24 hours: ‘Not very common’
“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
Haitian Illegal Immigrant Who Went Viral for Shouting ‘Biden Forever!’ During Arrest Deported by ICE
Thomas Massie Says He Intentionally Blindsided House Leaders When Filing Hegseth Impeachment Articles
‘Worse than Watergate’ New FBI files detail agent’s push to join Trump probe, investigate Elon Musk
5 states could be the biggest losers in Trump’s trade war with Canada, expert warns
Injured Louisiana boy hailed a ‘superhero’ for seeking help during deadly stabbing rampage
Florida woman allegedly drugs man she met at club, steals his nearly $100K Rolex: police
Muslim Mayor of Dearborn Invites Rapper Booted from Stadium Tour Over Anti-Israel Rant to Perform in City
International protests break out over rising oil and gas costs
Internet Trolls Karen Bass After She Deflects Blame for City’s Crumbling Roads
EU wants Canada to be its first associate member
Most of School’s 9/11 Curriculum Focuses on Muslim Acceptance, Teachers Told Not to ‘Center’ on the Terrorists
Congress faces AI test as debate explodes over industry regulation
El-Sayed grilled on Piker, Israel and socialist ties after Mike Rogers skips Senate debate
US military releases footage of massive operation to rescue injured airman stranded inside Iran
Multiple death sentences in different states are set to be carried out within 24 hours: ‘Not very common’
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.
