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.”
Lawmakers mourn loss of Doug LaMalfa
Why the Trump administration is calling the Maduro mission a ‘law enforcement operation’
Trump Announces California’s Time Has Come – ‘Fraud Investigation’ Underway
Doug LaMalfa’s sudden death leaves California House seat in Newsom’s hands
Hillary Clinton Marks Jan. 6 with a Huge Lie About Trump’s Actions on the Day
Trump says Democrats are ‘meaner’ than Republicans, warns of impeachment if GOP loses midterms
Trump pitches cognitive tests for leaders, questions if Harris, Walz, Newsom could pass
Breaking: Republican Congressman Doug LaMalfa Dies Suddenly at Age 65
CDC Significantly Alters Childhood Vaccine Schedule After ‘Exhaustive Review of the Evidence’
Iran rolls out $7 payments to quell affordability protests
Republican congressman hospitalized after car accident, sources say
Republicans rally behind Trump’s military strike to arrest Maduro as Democrats sound alarm: poll
Trial underway for former Uvalde school police officer accused of slow response to shooting
Frantic 911 calls detail moments before Columbus dentist and wife found dead: ‘There’s a body’
Maduro’s wife suffered ‘significant injuries’ in dramatic capture, attorney alleges
“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
Lawmakers mourn loss of Doug LaMalfa
Why the Trump administration is calling the Maduro mission a ‘law enforcement operation’
Trump Announces California’s Time Has Come – ‘Fraud Investigation’ Underway
Doug LaMalfa’s sudden death leaves California House seat in Newsom’s hands
Hillary Clinton Marks Jan. 6 with a Huge Lie About Trump’s Actions on the Day
Trump says Democrats are ‘meaner’ than Republicans, warns of impeachment if GOP loses midterms
Trump pitches cognitive tests for leaders, questions if Harris, Walz, Newsom could pass
Breaking: Republican Congressman Doug LaMalfa Dies Suddenly at Age 65
CDC Significantly Alters Childhood Vaccine Schedule After ‘Exhaustive Review of the Evidence’
Iran rolls out $7 payments to quell affordability protests
Republican congressman hospitalized after car accident, sources say
Republicans rally behind Trump’s military strike to arrest Maduro as Democrats sound alarm: poll
Trial underway for former Uvalde school police officer accused of slow response to shooting
Frantic 911 calls detail moments before Columbus dentist and wife found dead: ‘There’s a body’
Maduro’s wife suffered ‘significant injuries’ in dramatic capture, attorney alleges
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.
