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.”
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Ted Cruz names ‘most powerful Democrat’ as he warns socialist rise has paralyzed bipartisanship
Blue state school district accused of defying Supreme Court, hiding gender transitions from parents
Coast Guard recovers 47 bales of suspected marijuana worth $2.4M after intercepting go-fast vessel
Trump administration proposes stripping tax-exempt status from schools using race-based programs
Karen Read’s lawyer says Clancy defense attorney may be ‘cut from a different cloth’ as deliberations drag on
US military took down approximately 100 suspected cartel drones at southern border in August
Lindsay Clancy jury wraps day 6 with bombshell one-juror standoff, deliberations to resume Friday
WATCH: Bystanders, police lift Volkswagen off woman pinned underneath after dramatic e-bike crash
Missouri high court blocks GOP-backed congressional maps ahead of midterms; Trump blasts ‘ridiculous’ ruling
Clancy Verdict Deadlocked at 11-1, Defense Pushes for Holdout to Be Removed in Heated Exchange with Judge
Excavation set to begin on Trump administration’s 250-foot triumphal arch amid legal battle
GOP candidate gets busted trying to plant drugs on his political rival
With Gloria Steinem’s Death, Establishment Media Silences the Conservative Half of America
Court Forbids Mom to Take Daughter, 13, to Normal Christian Church – Used the Word ‘Cult’ in Official Docs
“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
Top DHS lawyer turns tables on 128 ex-judges after Bar declines ‘Worst of the Worst’ complaint
Ted Cruz names ‘most powerful Democrat’ as he warns socialist rise has paralyzed bipartisanship
Blue state school district accused of defying Supreme Court, hiding gender transitions from parents
Coast Guard recovers 47 bales of suspected marijuana worth $2.4M after intercepting go-fast vessel
Trump administration proposes stripping tax-exempt status from schools using race-based programs
Karen Read’s lawyer says Clancy defense attorney may be ‘cut from a different cloth’ as deliberations drag on
US military took down approximately 100 suspected cartel drones at southern border in August
Lindsay Clancy jury wraps day 6 with bombshell one-juror standoff, deliberations to resume Friday
WATCH: Bystanders, police lift Volkswagen off woman pinned underneath after dramatic e-bike crash
Missouri high court blocks GOP-backed congressional maps ahead of midterms; Trump blasts ‘ridiculous’ ruling
Clancy Verdict Deadlocked at 11-1, Defense Pushes for Holdout to Be Removed in Heated Exchange with Judge
Excavation set to begin on Trump administration’s 250-foot triumphal arch amid legal battle
GOP candidate gets busted trying to plant drugs on his political rival
With Gloria Steinem’s Death, Establishment Media Silences the Conservative Half of America
Court Forbids Mom to Take Daughter, 13, to Normal Christian Church – Used the Word ‘Cult’ in Official Docs
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.
