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.”
How Chinese EVs Coming from Canada May Impact US National Security
Scandal-Ridden Hospital to Open First US ‘Detransition’ Clinic in Historic Legal Settlement
‘Backyard brawl’ ignites as West Virginia’s Morrisey moves to poach blue state rival Spanberger’s jobs
Cassidy primary defeat is a ‘loss for the country,’ Romney says
Josh Shapiro tests political clout in Pennsylvania primary
Arkansas man allegedly threatened Walmart mass shooting over hantavirus lockdown fears, authorities say
Austin police arrest 2 juveniles allegedly linked to 12 random shootings injuring 4 people
Trump reads Bible as thousands pack National Mall for America 250 prayer rally
Attorney for man accused of throwing rock at endangered Hawaiian monk seal says client was protecting turtles
Faith and government leaders celebrate US as ‘One Nation Under God’ at Rededicate 250
Sean Spicer-linked group makes case for Trump to seniors before midterm elections
Two Navy jets crash midair as crew successfully ejects during Idaho military base air show
Blue State May Have Slipped Up While Defending Its Ammo Ban
Republican Lawmaker Crashes Woke Church’s Gun Buyback Scheme With Ingenious Play
Trump warns Iran’s ‘clock is ticking’: Move ‘fast’ or ‘there won’t be anything left’
“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
How Chinese EVs Coming from Canada May Impact US National Security
Scandal-Ridden Hospital to Open First US ‘Detransition’ Clinic in Historic Legal Settlement
‘Backyard brawl’ ignites as West Virginia’s Morrisey moves to poach blue state rival Spanberger’s jobs
Cassidy primary defeat is a ‘loss for the country,’ Romney says
Josh Shapiro tests political clout in Pennsylvania primary
Arkansas man allegedly threatened Walmart mass shooting over hantavirus lockdown fears, authorities say
Austin police arrest 2 juveniles allegedly linked to 12 random shootings injuring 4 people
Trump reads Bible as thousands pack National Mall for America 250 prayer rally
Attorney for man accused of throwing rock at endangered Hawaiian monk seal says client was protecting turtles
Faith and government leaders celebrate US as ‘One Nation Under God’ at Rededicate 250
Sean Spicer-linked group makes case for Trump to seniors before midterm elections
Two Navy jets crash midair as crew successfully ejects during Idaho military base air show
Blue State May Have Slipped Up While Defending Its Ammo Ban
Republican Lawmaker Crashes Woke Church’s Gun Buyback Scheme With Ingenious Play
Trump warns Iran’s ‘clock is ticking’: Move ‘fast’ or ‘there won’t be anything left’
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.
