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.”
Arizona voter-law fight reaches SCOTUS as election groups warn ‘absurd’ consequence could ensue
Well-connected Dem operative learns fate after FBI busts him in child sex abuse sting
California McDonald’s Shootout Turns Deadly as Police Arrive: Turns Out the Perpetrator Was an Employee
How Stepdad Firefighter Learned of 911 Call in Most Painful Way Possible
Ex-Fetterman staffers promise more damaging details after blistering report: ‘Tip of the iceberg’
NJ mayor demands sanctuary policy rollback after baby killed in crash allegedly involving illegal immigrant
Patrick Clancy speaks out after hung jury in Lindsay Clancy case, addresses prospect of another trial
‘Black widow’ allegedly attempted to murder romantic partner, 69, she met online
Armed Florida Owner Shows What ‘Stand Your Ground’ Means as Intruder Attempts to Break Inside
Scientists Discover New Tick-Borne Virus After Spread of Mystery Illness
Squatter nightmare turns DC apartment building into ‘drug haven’ as legal battle drags on: ‘There’s no help’
Maryland’s only House Republican looks to Larry Hogan to help survive redistricting
Missouri AG files petition asking Supreme Court to revive Trump-backed redistricting map
Portion of the Kennedy Center ceiling collapses, renewing calls to close for renovations
Nevada Democratic election chief says Trump administration hit his office with seven DOJ subpoenas
“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
Arizona voter-law fight reaches SCOTUS as election groups warn ‘absurd’ consequence could ensue
Well-connected Dem operative learns fate after FBI busts him in child sex abuse sting
California McDonald’s Shootout Turns Deadly as Police Arrive: Turns Out the Perpetrator Was an Employee
How Stepdad Firefighter Learned of 911 Call in Most Painful Way Possible
Ex-Fetterman staffers promise more damaging details after blistering report: ‘Tip of the iceberg’
NJ mayor demands sanctuary policy rollback after baby killed in crash allegedly involving illegal immigrant
Patrick Clancy speaks out after hung jury in Lindsay Clancy case, addresses prospect of another trial
‘Black widow’ allegedly attempted to murder romantic partner, 69, she met online
Armed Florida Owner Shows What ‘Stand Your Ground’ Means as Intruder Attempts to Break Inside
Scientists Discover New Tick-Borne Virus After Spread of Mystery Illness
Squatter nightmare turns DC apartment building into ‘drug haven’ as legal battle drags on: ‘There’s no help’
Maryland’s only House Republican looks to Larry Hogan to help survive redistricting
Missouri AG files petition asking Supreme Court to revive Trump-backed redistricting map
Portion of the Kennedy Center ceiling collapses, renewing calls to close for renovations
Nevada Democratic election chief says Trump administration hit his office with seven DOJ subpoenas
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.
