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.”
Man shot and killed inside New York City subway station in Midtown Manhattan: NYPD
California diners are cutting back as costs soar — but restaurant owner reveals one trend that’s booming
Watch: Stunt Chopper at Navy SEAL Fundraiser Thrills Guests With Small Explosions and Red, White and Blue Smoke Show
Hero Dad Who Stopped Oregon School Shooting Doesn’t Want an Award, Tragically Feels Guilt Over Not Saving More
‘Moderate’ AG’s office turned to groups that spent years suing prisons for recruiting help: emails reveal
A Symbolic Detail Hidden in Background of Netflix’s New ‘Narnia’ Trailer Has Fans Fearing the Worst
Alito Shuts Down Retirement Talks as Midterms Threaten GOP Path to Confirm Successor
Pope Leo XIV leaves hospital and returns to Vatican after lung cancer surgery
From handyman to House history: HVAC mogul Joe Strada pushes trade schools, business mindset in Florida race
They’ll Never Learn: As Crime Sprees Plague Seattle, It’s Socialist Mayor Introduces Soft-on-Crime ‘Connection Court’
Ilhan Omar should be jailed, deported if citizenship fraud proven, Top House Republican says
They May Come to Your State Too: Flood of West Nile Fever Cases Hits LA Thanks to Mosquito Swarms
When purity politics runs its course: Even the most strident DSA politicians must learn to compromise
Your bumper sticker could help Flock cameras track where you go — new bill aims to stop it
Detective suspected in girl’s murder may have killed others, former investigator fears
“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
Man shot and killed inside New York City subway station in Midtown Manhattan: NYPD
California diners are cutting back as costs soar — but restaurant owner reveals one trend that’s booming
Watch: Stunt Chopper at Navy SEAL Fundraiser Thrills Guests With Small Explosions and Red, White and Blue Smoke Show
Hero Dad Who Stopped Oregon School Shooting Doesn’t Want an Award, Tragically Feels Guilt Over Not Saving More
‘Moderate’ AG’s office turned to groups that spent years suing prisons for recruiting help: emails reveal
A Symbolic Detail Hidden in Background of Netflix’s New ‘Narnia’ Trailer Has Fans Fearing the Worst
Alito Shuts Down Retirement Talks as Midterms Threaten GOP Path to Confirm Successor
Pope Leo XIV leaves hospital and returns to Vatican after lung cancer surgery
From handyman to House history: HVAC mogul Joe Strada pushes trade schools, business mindset in Florida race
They’ll Never Learn: As Crime Sprees Plague Seattle, It’s Socialist Mayor Introduces Soft-on-Crime ‘Connection Court’
Ilhan Omar should be jailed, deported if citizenship fraud proven, Top House Republican says
They May Come to Your State Too: Flood of West Nile Fever Cases Hits LA Thanks to Mosquito Swarms
When purity politics runs its course: Even the most strident DSA politicians must learn to compromise
Your bumper sticker could help Flock cameras track where you go — new bill aims to stop it
Detective suspected in girl’s murder may have killed others, former investigator fears
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.
