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.”
Louisiana man accused of killing wife, propping her body up for multistate drive
Todd Blanche backs Jeanine Pirro after Lincoln Memorial pool vandalism case dismissal
Trump orders major cut to US-South Korea drills as North Korea ramps up missile tests
Long Island street takeover erupts as drivers block road, perform donuts, burnouts: police
CENTCOM commander touts USS Abraham Lincoln mental health record after more than 260 days without port call
Wes Moore: Trump’s response to USS Lincoln crew concerns ‘pisses me off’
Anti-Israel nonprofit under federal investigation over financial dealings: report
Progressive Minneapolis mayor’s viral hip-hop moves spark ‘humiliation ritual’ mockery online
This Chinese Company Imports Workers And Is Accused Of Polluting Hungary’s Water. It Also Gets Tax Breaks In US.
Federal judge clears path for border wall construction in Arizona
Humanoid robots could patrol southern border, CEO pitches, as futuristic technology moves closer to reality
Men Are Not Women: Stand Up for the Truth
The only map you need to see as California’s billionaire tax fight heats up
Lexington, Kentucky park shooting kills 1, injures 4 during live band performance
Democrats Want ID for Hot Pockets But Not for Voting?
“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
Louisiana man accused of killing wife, propping her body up for multistate drive
Todd Blanche backs Jeanine Pirro after Lincoln Memorial pool vandalism case dismissal
Trump orders major cut to US-South Korea drills as North Korea ramps up missile tests
Long Island street takeover erupts as drivers block road, perform donuts, burnouts: police
CENTCOM commander touts USS Abraham Lincoln mental health record after more than 260 days without port call
Wes Moore: Trump’s response to USS Lincoln crew concerns ‘pisses me off’
Anti-Israel nonprofit under federal investigation over financial dealings: report
Progressive Minneapolis mayor’s viral hip-hop moves spark ‘humiliation ritual’ mockery online
This Chinese Company Imports Workers And Is Accused Of Polluting Hungary’s Water. It Also Gets Tax Breaks In US.
Federal judge clears path for border wall construction in Arizona
Humanoid robots could patrol southern border, CEO pitches, as futuristic technology moves closer to reality
Men Are Not Women: Stand Up for the Truth
The only map you need to see as California’s billionaire tax fight heats up
Lexington, Kentucky park shooting kills 1, injures 4 during live band performance
Democrats Want ID for Hot Pockets But Not for Voting?
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.
