Trump terminates GSP treatment of India as developing country, effective June 5, 2019

[Adam WANG SHANGHAI MEGA]

Trump terminates GSP treatment of India as developing country, effective June 5, 2019

https://www.toutiao.com/a6697362570472325640/
Global Times 2019-06-01 09:07:18
In response to the Hindu newspaper and the UrduPoint website in Pakistan, US President Trump announced on the evening of May 31 that the United States will terminate GSP treatment of India as developing country, effective June 5, 2019, according to the US Generalized System of Preferences (GSP). With preferential treatment, India will lose preferential terms of trade with the United States.

US President Trump sent a letter to the US Congress on March 4, expressing his intention to cancel the GSP concessions for India. "After the close contact between the United States and the Indian government, I have determined that India has not assured the United States that it will provide fair and reasonable Opportunities to enter the Indian market."

On the same day, Trump sent a similar notice to Turkey, because Turkey’s economic development has made it unnecessary to enjoy the GSP dividend. Trump terminated the GSP project in Turkey on May 17.

The US-to-India GSP system covers India’s $5.6 billion in exports, and although India has only received $190 million in tariff reductions, the program has had an impact on key industries such as Indian textiles, leather, engineering products, gemstones and jewelry. .

An official of the US State Department has revealed that if basic trade issues are resolved, it is still possible to restore subsidies, but the loss of GSP qualifications in India is a "thinking thing."

(Edit: YZM)
特朗普终止对印度的发展中国家普惠制待遇，6月5日起生效
原创 环球时报 2019-06-01 09:07:18
综合《印度教徒报》、巴基斯坦UrduPoint网站消息，美国总统特朗普5月31日晚宣布，根据美国的普遍优惠制(GSP)计划，美国将于6月5日终止对印度的发展中国家普惠制待遇，印度将失去与美国之间的优惠贸易条件。

美国总统特朗普3月4日致信美国国会，表示有意取消对印度的普惠制优惠，“在美国与印度政府密切接触之后，我已经确定印度没有向美国保证它将提供公平合理的进入印度市场的机会”。

同一天，特朗普也向土耳其发出了类似的通知，因为土耳其的经济发达程度已经令其不必再享有普惠制的红利。特朗普已于5月17日终止了土耳其的普惠制项目。

对美国对印度的普惠制覆盖了印度56亿美元的出口额，尽管印度仅获得1.9亿美元的关税减免，但该计划对印度纺织、皮革、工程产品、宝石和珠宝等关键行业产生了影响。

美国国务院一位官员曾透露，如果基本贸易问题得到解决，恢复补贴仍是可能的，但印度失去普惠制资格是“板上钉钉的事”。

（编辑：YZM）

 

[Adam WANG SHANGHAI MEGA]

Those Indians who are laughing at China don’t know who to laugh at now?

 

[zectech]

Those Indians who are laughing at China don’t know who to laugh at now?

To Indians don't worry, maybe you will be treated nice, like Mexico.

trump thinks mexicans are rapists and deserving of tariffs. Indians too are rapists and... perhaps deserving of tariffs.

 

[Microsoft]

The welcoming present for Modi. What great respect for such a great leader.

 

[crankthatskunk]

Those Indians who are laughing at China don’t know who to laugh at now?

Easy answer. They can laugh at themselves now.
But knowing Indian's sense of humor. They will find something or someone to blame, guaranteed.

 

[TaiShang]

So far so good.

The US regime has been doing exactly the same way I would like them to do.

Perhaps, also as Mr. Putin blackmailed Trump to do.

I do not know it is me or Mr. Putin.

Welcome on-board, Indian comrades!



***

Trump Terminates Preferential Trade Tariff System With India as of June 5

01.06.2019

MOSCOW (Sputnik) - US President Donald Trump issued a proclamation, ordering to end the preferential trading regime with India under the Generalized System of Preferences (GSP) as of Wednesday.

"Now, therefore, I, Donald J. Trump, President of the United States of America, acting under the authority vested in me by the Constitution and the laws of the United States of America, including title V and sections 203 and 604 of the 1974 Act, do hereby proclaim that: (1) The designation of India as a beneficiary developing country is terminated, effective June 5, 2019," Trump said in the proclamation, issued by the White House late on Friday.

US Warns India May Face Similar Problems as Turkey Over S-400s Purchase – Report

"In Executive Order 11888 of November 24, 1975, the President designated India as a beneficiary developing country for purposes of the Generalized System of Preferences… I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets. Accordingly, it is appropriate to terminate India's designation as a beneficiary developing country effective June 5, 2019," the proclamation added.

Trump also ordered to remove India from the list of developing WTO member states exempt from application of the safeguard measures on CSPV products and large residential washers.

READ MORE: India Likely to Resume Iranian Oil Imports Amid US Sanctions — Source

The GSP allows specific products from over 120 developing countries and territories to enter the United States duty-free.

https://sputniknews.com/business/201906011075527904-trump-terminates-india-trade-preferences/

 

[gangsta_rap]

pakistani sajish

 

[zectech]

https://sputniknews.com/business/201905281075407153-india-iran-crude-oil-sanctions/

Indians want to declare their independence from bully trump?

 

[Point 5310]

Old news as it was announced 3 months back by Trump.
https://ustr.gov/about-us/policy-of...s/2019/march/united-states-will-terminate-gsp

It will have Zero impact on India as only 10% of India's export to USA ($5.6 billion) is eligible for GSP benefits and the amount these exports benefited by, will be just $190 million.
Thus the actual cost on India would be less than even $200 million.

 

[Chhatrapati]

Some feel good circle jerk thread with no real impact on our exports to US.

 

[SorryNotSorry]

meh

 

[GHALIB]

Easy answer. They can laugh at themselves now.
But knowing Indian's sense of humor. They will find something or someone to blame, guaranteed.

you better laugh at yourself , go get some dollars .

 

[manlion]

termination - an after effect of Hindutva white supremacy prayers

 

[Sugarcane]

Old news as it was announced 3 months back by Trump.
https://ustr.gov/about-us/policy-of...s/2019/march/united-states-will-terminate-gsp

It will have Zero impact on India as only 10% of India's export to USA ($5.6 billion) is eligible for GSP benefits and the amount these exports benefited by, will be just $190 million.
Thus the actual cost on India would be less than even $200 million.

$190 million is value of tariff reduction not the value of export, The effected segments specially textiles will get hit as it will be even more difficult for India to compete Bangladesh (country with LDC benefits) in this sector.

 

[Type59]

Good for Indian competitors.

Modi got bitch slapped by trump. Modi failed to retaliate against steel tariffs, which usa placed on India. Modi was forced to stop Iranian oil imports. Modi constantly bends over for trump but Trump does not like curry bums.