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.”
Media Learns Would-Be Shooter Is Trans, Immediately Starts Using Biological Pronouns to Hide Trans ID, Blaming Men Instead
Repeat offender accused of shooting National Guard member has lengthy history with the law, records show
Former OJ Simpson attorney, longtime friend both support possibility of accomplice in 1994 murders
Trump renews push to rename New Mexico ‘New America,’ touts higher home values and incomes
Eagles QB Jalen Hurts Pulled for Season, Doctors Find Multiple Blood Clots in His Lungs
Smithsonian screening dispute puts museum’s commitment to diverse views on trial: ‘Right kind of Black?’
Reporter’s Notebook: Senate sneaks in one last political play before voters have their say
France’s massive intel failure sparks resignation offers amid days of rioting
Federal voter fraud arrests intensify in California days after DOJ warning
Rick Jackson to skip Trump campaign rally in Georgia
Court Set to Deliver Big Win to 70 Churches Seeking to Leave United Methodist Denomination
How a foreign government helped accused Saudi spy’s family flee US after OpenAI bug scandal
Violent far-left riots in France are ‘chilling warning’ for Americans at home, Mike Johnson says
WJ Straw Poll: Rubio Nears 50 Percent as Massie Loses More Ground
Trump aides fire back at press over Zacharia firing as they seek to limit damage
“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
Media Learns Would-Be Shooter Is Trans, Immediately Starts Using Biological Pronouns to Hide Trans ID, Blaming Men Instead
Repeat offender accused of shooting National Guard member has lengthy history with the law, records show
Former OJ Simpson attorney, longtime friend both support possibility of accomplice in 1994 murders
Trump renews push to rename New Mexico ‘New America,’ touts higher home values and incomes
Eagles QB Jalen Hurts Pulled for Season, Doctors Find Multiple Blood Clots in His Lungs
Smithsonian screening dispute puts museum’s commitment to diverse views on trial: ‘Right kind of Black?’
Reporter’s Notebook: Senate sneaks in one last political play before voters have their say
France’s massive intel failure sparks resignation offers amid days of rioting
Federal voter fraud arrests intensify in California days after DOJ warning
Rick Jackson to skip Trump campaign rally in Georgia
Court Set to Deliver Big Win to 70 Churches Seeking to Leave United Methodist Denomination
How a foreign government helped accused Saudi spy’s family flee US after OpenAI bug scandal
Violent far-left riots in France are ‘chilling warning’ for Americans at home, Mike Johnson says
WJ Straw Poll: Rubio Nears 50 Percent as Massie Loses More Ground
Trump aides fire back at press over Zacharia firing as they seek to limit damage
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.
