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.”
California governor’s debate turns chaotic as candidates chase breakout moment
Illegal immigrant accused of killing newlywed couple in Oregon crash arrested by ICE after jail release
Pentagon urges Congress to codify ‘Department of War’ name change it estimates will cost $52 million
Biden Admin Used a ‘Code Word’ to Conceal Loans to Planned Parenthood, Senator Alleges
Reagan shooter calls link to Washington hotel ‘spooky’ after alleged Trump assassination attempt at same site
Self-Avowed ‘Socialist Socialite’ Roasted After Mocking Budget Dress Worn by Hegseth’s Wife
Teacher’s ‘Disgusting’ Comment About White House Correspondents’ Dinner Shooting Gets Him Placed on Leave
CNN Admits Trump Suspect Parroted Mainstream Dem ‘Hitler’ Rhetoric, Was Radicalized Around Election
DHS taunts media for reporting about ‘Green Bay man’ illegal immigrant charged in vicious machete attack
Ghost in the gallery: George Washington looks on as King Charles addresses Congress
Hot Mic: Fox’s Jimmy Failla Mocked WHCD Security Before Shooting: Might as Well Be ‘A Doorstop and a Scarecrow’
Poll: Former Fox Host Steve Hilton Has Narrow Lead in Packed California Race for Governor
Dem and GOP lawmakers trade blame over rhetoric after WHCD shooting: ‘It is disgusting’
Dem plot to limit Trump war powers on Cuba fails as GOP falls in line with military action abroad
Five key themes of King Charles III’s address to Congress
“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
California governor’s debate turns chaotic as candidates chase breakout moment
Illegal immigrant accused of killing newlywed couple in Oregon crash arrested by ICE after jail release
Pentagon urges Congress to codify ‘Department of War’ name change it estimates will cost $52 million
Biden Admin Used a ‘Code Word’ to Conceal Loans to Planned Parenthood, Senator Alleges
Reagan shooter calls link to Washington hotel ‘spooky’ after alleged Trump assassination attempt at same site
Self-Avowed ‘Socialist Socialite’ Roasted After Mocking Budget Dress Worn by Hegseth’s Wife
Teacher’s ‘Disgusting’ Comment About White House Correspondents’ Dinner Shooting Gets Him Placed on Leave
CNN Admits Trump Suspect Parroted Mainstream Dem ‘Hitler’ Rhetoric, Was Radicalized Around Election
DHS taunts media for reporting about ‘Green Bay man’ illegal immigrant charged in vicious machete attack
Ghost in the gallery: George Washington looks on as King Charles addresses Congress
Hot Mic: Fox’s Jimmy Failla Mocked WHCD Security Before Shooting: Might as Well Be ‘A Doorstop and a Scarecrow’
Poll: Former Fox Host Steve Hilton Has Narrow Lead in Packed California Race for Governor
Dem and GOP lawmakers trade blame over rhetoric after WHCD shooting: ‘It is disgusting’
Dem plot to limit Trump war powers on Cuba fails as GOP falls in line with military action abroad
Five key themes of King Charles III’s address to Congress
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.
