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.”
Federal agents conduct predawn search of Ilhan Omar’s home in Washington
Democrats see new chances to flip red states — but a $400M GOP spending advantage could derail their plans
SC Dem Senate candidate claims she will stand up to her party as Graham ties her to ‘socialist Democrats’
Pennsylvania gunman who killed 8 was grandfather who seemed normal, victim relatives say
Immigration enforcement officials search Ilhan Omar’s home in pre-dawn raid
Trump’s backyard is quietly transforming into ‘Silicon Valley South’ as wealthy Americans flock in
Jim Justice could shake up West Virginia politics with ‘clash of the titans’ 2028 governor run
Suspect in deadly Philadelphia police ambush faces 76 charges, ordered held without bail
Maduro-linked fugitive nabbed over alleged scheme to cash in on Venezuelans’ basic needs
Pregnant mom just 4 days from giving birth among 8 killed in Pennsylvania massacre: reports
Minnesota homecoming shooting suspect out on bond after gunfire sends football fans fleeing
Trump and Rubio weigh firing Kimberly Guilfoyle as misconduct and donor bailout allegations mount
Three men found guilty of murdering Australian brothers and American friend on Mexico surfing trip
Quiet part out loud: Anti-Israel mobs want one state called ‘Palestine,’ erasing Israel
Toddler stabbed in face, suspect previously deemed unfit for trial in attacks on 2 children: report
“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
Federal agents conduct predawn search of Ilhan Omar’s home in Washington
Democrats see new chances to flip red states — but a $400M GOP spending advantage could derail their plans
SC Dem Senate candidate claims she will stand up to her party as Graham ties her to ‘socialist Democrats’
Pennsylvania gunman who killed 8 was grandfather who seemed normal, victim relatives say
Immigration enforcement officials search Ilhan Omar’s home in pre-dawn raid
Trump’s backyard is quietly transforming into ‘Silicon Valley South’ as wealthy Americans flock in
Jim Justice could shake up West Virginia politics with ‘clash of the titans’ 2028 governor run
Suspect in deadly Philadelphia police ambush faces 76 charges, ordered held without bail
Maduro-linked fugitive nabbed over alleged scheme to cash in on Venezuelans’ basic needs
Pregnant mom just 4 days from giving birth among 8 killed in Pennsylvania massacre: reports
Minnesota homecoming shooting suspect out on bond after gunfire sends football fans fleeing
Trump and Rubio weigh firing Kimberly Guilfoyle as misconduct and donor bailout allegations mount
Three men found guilty of murdering Australian brothers and American friend on Mexico surfing trip
Quiet part out loud: Anti-Israel mobs want one state called ‘Palestine,’ erasing Israel
Toddler stabbed in face, suspect previously deemed unfit for trial in attacks on 2 children: report
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.
