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.”
Longest-serving US prisoner dies at 101 after escaping death penalty 8 times
Charter plane crashes near remote radar site in western Alaska, killing all 8 aboard
Video: Teenage Girl Charged with Assault After Attacking Middle School Football Player During Game
Jury awards teens $550K after Oregon amusement park ride left them hanging upside down: report
Fake Hate: School Board Member Created Story About HS Football Coach – Took Years and $350k in Legal Fees for Truth to Surface
Surrogate says baby ‘ripped away’ 60 seconds after birth as custody fight erupts after abortion refusal
Watch: Scott Jennings Goes Nuclear on Democrats ‘Punching Down’ on Top Trump Aide
Vice President JD Vance blasts Mamdani, El-Sayed, AOC and Ossoff in rapid-fire TikTok roast
Lindsay Clancy Blamed ‘A Male Voice’ for Ordering Her to Kill Her Children: Court Testimony
Newspaper Columnist Quits After Editors Kill Story on a Teen Sophie Cunningham Fan Who Thanked Her for ‘Speaking Up for Girls’
Carville unloads on DSA socialists: ‘Don’t use our god—- name’
Bodycam video shows Oklahoma secretary of state’s arrest outside McDonald’s on public intoxication allegation
Obama strategist turns on rising Dem star over viral Trump attack: ‘Gratuitous and unnecessary’
Republicans Score Crucial Court Win on Redistricting Just Before Midterms
El-Sayed booked for major Islamic convention alongside clerics with radical pasts
“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
Longest-serving US prisoner dies at 101 after escaping death penalty 8 times
Charter plane crashes near remote radar site in western Alaska, killing all 8 aboard
Video: Teenage Girl Charged with Assault After Attacking Middle School Football Player During Game
Jury awards teens $550K after Oregon amusement park ride left them hanging upside down: report
Fake Hate: School Board Member Created Story About HS Football Coach – Took Years and $350k in Legal Fees for Truth to Surface
Surrogate says baby ‘ripped away’ 60 seconds after birth as custody fight erupts after abortion refusal
Watch: Scott Jennings Goes Nuclear on Democrats ‘Punching Down’ on Top Trump Aide
Vice President JD Vance blasts Mamdani, El-Sayed, AOC and Ossoff in rapid-fire TikTok roast
Lindsay Clancy Blamed ‘A Male Voice’ for Ordering Her to Kill Her Children: Court Testimony
Newspaper Columnist Quits After Editors Kill Story on a Teen Sophie Cunningham Fan Who Thanked Her for ‘Speaking Up for Girls’
Carville unloads on DSA socialists: ‘Don’t use our god—- name’
Bodycam video shows Oklahoma secretary of state’s arrest outside McDonald’s on public intoxication allegation
Obama strategist turns on rising Dem star over viral Trump attack: ‘Gratuitous and unnecessary’
Republicans Score Crucial Court Win on Redistricting Just Before Midterms
El-Sayed booked for major Islamic convention alongside clerics with radical pasts
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.
