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.”
Closed-door outburst turns into victory for Trump’s Iran negotiations
‘America is back’: Trump kicks off Great American State Fair with flyovers, patriotic National Mall speech
Body believed to be Kansas City highway shooting suspect found in burned home’s basement by family: police
Pennsylvania mother’s video captures armed intruder holding her toddler as she begs for child’s release
‘High casualties’ feared after two powerful earthquakes rock Venezuela: USGS
Sean Hannity Issues Explanation After Viewers Express Concern About His On-Air Appearance
Tempers Flare and Voices Are Raised as Trump and Senate Republican Go Toe-to-Toe in Closed Door Meeting
Christian Judge Who Refused to Perform Gay Weddings ‘Vindicated’ in Big Court Ruling
ALERT: 2 Major Earthquakes Within Minutes of Each on Different Parts of Globe – Injury Situations Unclear – VIDEO
New York congressional primary becomes second most expensive House race ever amid AI fight
Unearthed video exposes vulnerable House Dem’s reversal on crucial issue impacting state
Feds bust a dozen for allegedly smuggling drugs and phones into prisons using ‘heavy payload drone’
Dem Congressional Candidate Caught Bringing Sex Offender Who Victimized 8-Year-Old with Him to School Event
Mamdani-Backed Candidate Who Blamed 9/11 on American ‘Capitalism and Racism’ Wins Democratic Primary
Comer probes alleged Biden collusion with gun control activists in Glock lawsuit
“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
Closed-door outburst turns into victory for Trump’s Iran negotiations
‘America is back’: Trump kicks off Great American State Fair with flyovers, patriotic National Mall speech
Body believed to be Kansas City highway shooting suspect found in burned home’s basement by family: police
Pennsylvania mother’s video captures armed intruder holding her toddler as she begs for child’s release
‘High casualties’ feared after two powerful earthquakes rock Venezuela: USGS
Sean Hannity Issues Explanation After Viewers Express Concern About His On-Air Appearance
Tempers Flare and Voices Are Raised as Trump and Senate Republican Go Toe-to-Toe in Closed Door Meeting
Christian Judge Who Refused to Perform Gay Weddings ‘Vindicated’ in Big Court Ruling
ALERT: 2 Major Earthquakes Within Minutes of Each on Different Parts of Globe – Injury Situations Unclear – VIDEO
New York congressional primary becomes second most expensive House race ever amid AI fight
Unearthed video exposes vulnerable House Dem’s reversal on crucial issue impacting state
Feds bust a dozen for allegedly smuggling drugs and phones into prisons using ‘heavy payload drone’
Dem Congressional Candidate Caught Bringing Sex Offender Who Victimized 8-Year-Old with Him to School Event
Mamdani-Backed Candidate Who Blamed 9/11 on American ‘Capitalism and Racism’ Wins Democratic Primary
Comer probes alleged Biden collusion with gun control activists in Glock lawsuit
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.
