Donald Trump removes India from special trade status

[Chrish]

https://www.cnn.com/2019/06/01/politics/trump-india-trade-status/index.html

Washington (CNN)The Trump administration announced Friday that it's ending special trade treatment for India, removing a status that exempts billions of dollars of the country's products from US tariffs.

"I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets," President Donald Trump said in a proclamation issued by the White House.

As of June 5th, India will be terminated from its designation as a beneficiary developing country. The move adds one more front to Trump's global trade wars. It comes as Trump took new aim at Mexico this week with threatened tariffs if the country does not step up its immigration enforcement actions. The President has also promised new levies on China amid an impasse in negotiations over a renewed trade deal, and is considering a ban on foreign auto imports.

India will be removed from the preferential trade program, known as the Generalized System of Preferences, which gives developing countries easier access to the US market and lowers US duties on their exports. The White House also removed Turkey from the GSP program.

The tariffs will apply to "large residence" washing machines and solar cells and panels from India.

The US announcement comes two days after India's Narendra Modi was sworn in for a second straight term as prime minister.

In a statement Saturday, India's government said it was "unfortunate" that the US did not accept India's offer of a resolution.

"In any relationship, in particular in the area of economic ties, there are ongoing issues which get resolved mutually from time to time. We view this issue as a part of this regular process and will continue to build on our strong ties with the US, both economic and people-to-people," the statement read.

Tensions between the two countries have increased in recent years over trade.

Trump has repeatedly slammed Indian duties on US goods, including on motorcycles. In a letter to Congress back in March, Trump signaled his intentions to remove India from the GSP and accused the nation of unfairly shutting out American businesses.

India was one of several countries affected by US steel and aluminum tariffs last year. The Indian government announced it will impose tariffs on US goods worth $240 million, but postponed putting them into effect several times.

CNN's Allison Hoffman contributed to this report.

 

[Technics 1210]

Careful you and this thread will be accused of being shameful, as well as trolling!

On OP - India's economy is heading in one direction, south - thanks to Modi. Fraudulent GDP figures, call centers moving out, and now new tariffs imposed on Indian exports to USA.

 

[Bewal Express]

Aren't the BJP fascists big fans of the lunatic

 

[barah_admi]

I thought India was an economic powerhouse?

 

[PakLFC]

Now India will make some excuse to paint it as a victory

 

[Chrish]

I thought India was an economic powerhouse?

US is the one and only true powerhouse.. Everyone else dances to their tune which includes China and UK..

 

[Technics 1210]

US is the one and only true powerhouse.. Everyone else dances to their tune which includes China and UK..

While this is true, there are few points to consider.

1. Reserve currency of the world is USD.
2. All top rating agencies are American.
3. Debt ceiling is forbidden by their constitution.
4. QE has propped up their equity markets.

The fact USA's debt is ever growing simply proves Americans are borrowing from the future; however the fundamentals tell a different story.

 

[shaaik]

This buffoon is as mercurial as our cricket team... You really cant tell with him whats he going to do next..

 

[jewel1985]

Good. It's about time he did that. Also needs to get rid off the H-1B and other visas too which the Indians have been abusing for too long now.

 

[jusarrived]

US is the one and only true powerhouse.. Everyone else dances to their tune which includes China and UK..

This reaction is infact cos we don’t dance to their tune . Stock market went up 2% after this news , that’s how much it impacts us

 

[jusarrived]

Careful you and this thread will be accused of being shameful, as well as trolling!

On OP - India's economy is heading in one direction, south - thanks to Modi. Fraudulent GDP figures, call centers moving out, and now new tariffs imposed on Indian exports to USA.

Lol I have seen economists on pp predict doom for nearly 12-13 years now .

 

[zn426]

While this is true, there are few points to consider.

1. Reserve currency of the world is USD.
2. All top rating agencies are American.
3. Debt ceiling is forbidden by their constitution.
4. QE has propped up their equity markets.

The fact USA's debt is ever growing simply proves Americans are borrowing from the future; however the fundamentals tell a different story.

The US constitution states nothing about a debt ceiling ban. In fact Congress here has had to vote on raising the debt ceiling seemingly every year for the last several years-it's been a massive political battle every single time.

 

[Technics 1210]

The US constitution states nothing about a debt ceiling ban. In fact Congress here has had to vote on raising the debt ceiling seemingly every year for the last several years-it's been a massive political battle every single time.

Section 8.

https://constitutionus.com/

Enjoy.

 

[Technics 1210]

I was crying in a corner after seeing your post, and thinking about the dismal Indian economy. I was wondering, do we now have to now go to the IMF or to our allies like the US and Russia for food and money?

Then I saw this, and I stopped crying.

https://www.business-standard.com/a...-to-top-at-7-5-world-bank-119060500156_1.html

Please don't make me cry again.

It's 2018, not 2019.

India no longer world's fastest-growing economy

https://www.bbc.co.uk/news/world-asia-india-48460232

The fraud has been exposed, Instead of going to the IMF, India just let 10s of Millions die of hunger.

Happy weeping.

 

[Napa]

Careful you and this thread will be accused of being shameful, as well as trolling!

On OP - India's economy is heading in one direction, south - thanks to Modi. Fraudulent GDP figures, call centers moving out, and now new tariffs imposed on Indian exports to USA.

Aren't the BJP fascists big fans of the lunatic

I thought India was an economic powerhouse?

Now India will make some excuse to paint it as a victory

Good. It's about time he did that. Also needs to get rid off the H-1B and other visas too which the Indians have been abusing for too long now.

You need to go back to your corner and cry out your eyes ASAP, as the situation is very dire. Financial Times reports:

gross domestic product is expected to grow just 2.9 per cent this year compared with 5.2 per cent a year earlier, according to the IMF, while its $8.9bn worth of reserves are barely enough to cover two months of imports. The rupee hit a record low of Rs153 to the dollar last Monday and has fallen more than 20 per cent against the dollar in the past year...
https://www.ft.com/content/66ff9e08-8055-11e9-b592-5fe435b57a3b

Oh wait, silly me. That was about India's neighbor, not about India! In fact India's forex reserves have increased this year to $420 billion:
https://www.moneycontrol.com/news/b...erves-up-by-1-99-bn-to-419-99-bn-4053331.html

India runs a combined merchandise and services surplus with the US of around $49 billion:

https://ustr.gov/countries-regions/south-central-asia/india

Needless to say, tariffs on $5.6 billion dollars of Indian exports to the US (being given duty-free status, according to a Congressional Research Service report) will not have a major impact. Trump trusts India over China, but has to show that he is being even-handed as he tries to help the American worker.
[MENTION=76058]cricketjoshila[/MENTION] [MENTION=147708]Akki malhotra[/MENTION]

 

[zn426]

Good. It's about time he did that. Also needs to get rid off the H-1B and other visas too which the Indians have been abusing for too long now.

He'd better. A massive H-1B mafia has developed here over the past two decades, there are completely unqualified people from India getting jobs here.

 

[zn426]

There is absolutely nothing in section 8 discussing a limit. In fact a balanced budget amendment has been the topic of some discussion in recent years. Care to try again?

 

[Technics 1210]

There is absolutely nothing in section 8 discussing a limit. In fact a balanced budget amendment has been the topic of some discussion in recent years. Care to try again?

Section 8 and 14th Amendment says you are wrong.

 

[zn426]

Are you even a US resident making such ridiculous claims? Do you even know how to read properly? The 14th amendment was written to cover issues with the US Civil War now 160 years past. It essentially said that the Confederacy rebelling against the United States would not have its debts covered for rebellion. That has nothing to do with the US debt ceiling. It's obvious to me you're uninformed and simply quoting passages at random to try and support your ludicrous claims. No worries. I'm done with your foolishness. You can go parrot your nonsense to someone who doesn't read the news or doesn't understand how the US government works.

 

[Napa]

Are you even a US resident making such ridiculous claims? Do you even know how to read properly? The 14th amendment was written to cover issues with the US Civil War now 160 years past. It essentially said that the Confederacy rebelling against the United States would not have its debts covered for rebellion. <b>That has nothing to do with the US debt ceiling. It's obvious to me you're uninformed and simply quoting passages at random to try and support your ludicrous claims.</b>

I had the same experience. To the following news article about India's GDP growth rate, this poster replied "It's 2018, not 2019."

https://www.business-standard.com/a...-to-top-at-7-5-world-bank-119060500156_1.html

It made me think the article must be from 2018, so I went and looked again. The article is actually from June 2019, and it provides the World Bank's estimate of Indian GDP growth in 2020.

No worries. I'm done with your foolishness. You can go parrot your nonsense to someone who doesn't read the news or doesn't understand how the US government works.

Sensible thing to do!

 

[jewel1985]

He'd better. A massive H-1B mafia has developed here over the past two decades, there are completely unqualified people from India getting jobs here.

There was quite a big story a couple of years ago that highlighted this issue quite well.

https://www.nytimes.com/2015/06/04/...t-disney-train-foreign-replacements.html?_r=0

And this is just the tip of the iceberg.

 

[cricketjoshila]

You need to go back to your corner and cry out your eyes ASAP, as the situation is very dire. Financial Times reports:



Oh wait, silly me. That was about India's neighbor, not about India! In fact India's forex reserves have increased this year to $420 billion:
https://www.moneycontrol.com/news/b...erves-up-by-1-99-bn-to-419-99-bn-4053331.html

India runs a combined merchandise and services surplus with the US of around $49 billion:

https://ustr.gov/countries-regions/south-central-asia/india

Needless to say, tariffs on $5.6 billion dollars of Indian exports to the US (being given duty-free status, according to a Congressional Research Service report) will not have a major impact. Trump trusts India over China, but has to show that he is being even-handed as he tries to help the American worker.
[MENTION=76058]cricketjoshila[/MENTION] [MENTION=147708]Akki malhotra[/MENTION]

This prediction of doom of Indian economy is on PP since i joined.

Posters have come and gone and returned but the fundamentals of the Indian economy have stayed strong.

OTOH Pakistani economy is in dire straits.

 

[Napa]

There was quite a big story a couple of years ago that highlighted this issue quite well.

https://www.nytimes.com/2015/06/04/...t-disney-train-foreign-replacements.html?_r=0

And this is just the tip of the iceberg.

So there was a "big story a couple of years ago" and what happened? Nothing, the American firms kept hiring Indian H-1Bs because they get the work done.

If Indian H-1Bs were incompetent, then a firm like Tata Consultancy Services (TCS) would not have a market capitalization exceeding that of the entire Karachi stock market.

If Trump was going to stop Indian H-1Bs, then the market cap of TCS would not have increased from $65B in Jan 2017 to $117B today.

 

[Napa]

Section 8 and 14th Amendment says you are wrong.

While you obviously believe in the vigorous exercise your 1A rights, it would be better for the sake of your reputation (whatever little remains of it) for you to take the 5th and keep quite.

 

[Technics 1210]

Are you even a US resident making such ridiculous claims? Do you even know how to read properly? The 14th amendment was written to cover issues with the US Civil War now 160 years past. It essentially said that the Confederacy rebelling against the United States would not have its debts covered for rebellion. That has nothing to do with the US debt ceiling. It's obvious to me you're uninformed and simply quoting passages at random to try and support your ludicrous claims. No worries. I'm done with your foolishness. You can go parrot your nonsense to someone who doesn't read the news or doesn't understand how the US government works.

The Public Debt Clause is part of Section 4 of the 14th Amendment, and reads in part, *the validity of the public debt of the United States, authorized by law … shall not be questioned.*

At least read the constitution before coming out with the bravado. And yes, this passage was used when raising the debt ceiling in 2011 and 2013.

It's obvious to me you need to read more.

 

[jewel1985]

So there was a "big story a couple of years ago" and what happened? Nothing, the American firms kept hiring Indian H-1Bs because they get the work done.

If Indian H-1Bs were incompetent, then a firm like Tata Consultancy Services (TCS) would not have a market capitalization exceeding that of the entire Karachi stock market.

If Trump was going to stop Indian H-1Bs, then the market cap of TCS would not have increased from $65B in Jan 2017 to $117B today.

Money and profits. That's all it comes down to in the end. Indians are cheaper and they are easier to control due to their drone mentality. Most are also willing to accept a lower standard of living compared to their native counterparts.

Of course the Indian workers are competent. Nobody is saying otherwise, but that is missing the point. They are destroying local labour markets as that article I posted showed. It's disgusting.

Trump should do something about it, but he won't.

 

[Napa]

Money and profits. That's all it comes down to in the end. Indians are cheaper and they are easier to control due to their drone mentality. Most are also willing to accept a lower standard of living compared to their native counterparts.

Of course the Indian workers are competent. Nobody is saying otherwise, but that is missing the point. They are destroying local labour markets as that article I posted showed. It's disgusting.

Trump should do something about it, but he won't.

Indians have drone mentality? That must be the reason why so many CEOs of the largest US firms are Indian.

Competent people who are willing to work for less are disgusting? If that is true, then competent Chinese blue collar workers who are willing to work in factories for less are disgusting too. The prime motivator for international trade is labor cost differences, so international trade is disgusting too.

I agree the American workers should be protected from rapacious corporations that seek the lowest labor costs and highest profits, but the major problem is not Indian tech workers (NYT's as usual anti-India biased article notwithstanding) but the export of manufacturing jobs to China. Besides the huge difference in numbers, the addition of white collar workers to an economy has benefits to the rest of the economy that the straight up export of blue collar jobs does not.

 

[sshakir411]

“Natural partners” “strategic allies”

Both Obama and Trump only intend to use India as a pawn to counter China and the offer to move manufacturing jobs was just for that reason.

 

[Napa]

“Natural partners” “strategic allies”

Both Obama and Trump only intend to use India as a pawn to counter China and the offer to move manufacturing jobs was just for that reason.

At least for the people in the two countries who believe that democracy is a good thing, the two largest democracies are "natural partners".

Besides that, from the perspective of Indians, if the leaders of the US have some unstated ulterior motive, it doesn't really matter as long as India also profits from the partnership. The biggest challenge for the Modi government is to make India a manufacturing base, for Indian firms and for international corporations.

 

[90MPH]

I find it funny Trump has a sections of fans in India.

Trump doesn’t give a toss about India. He doesn’t want immigrants from India just as he doesn’t want it from brown Mexicans or anywhere else (barring white Europeans).

 

[sshakir411]

At least for the people in the two countries who believe that democracy is a good thing, the two largest democracies are "natural partners".

Besides that, from the perspective of Indians, if the leaders of the US have some unstated ulterior motive, it doesn't really matter as long as India also profits from the partnership. The biggest challenge for the Modi government is to make India a manufacturing base, for Indian firms and for international corporations.

lol But you guys are not. You’re a selected partner to counter the real threat. You might get pleasure in getting rich but the eventual end game doesn’t make India stronger..rather it reinforces the strength of the US. You can surely make some money during the process..no problems with that..that’s exactly what Pakistan has done since the Soviet invasion. If you guys want to learn something from Pakistan then milk the hell out of US before it dump’s the region after their threat has been countered.

You don’t have to look far back in history to see that pattern mr Ivy League.

 

[sshakir411]

US used China for all its manufacturing for the past few decades and by moving it to India successfully..US only ensures it’s long-term survival and growth while hindering Chinese dominance.

The supernatural growth of an economy will not come through industrialization anymore and the US figured this out long time ago.

Doesn’t matter who manufactures most..it’s all about which economy has highest consumption.

 

[Chrish]

I find it funny Trump has a sections of fans in India.

Trump doesn’t give a toss about India. He doesn’t want immigrants from India just as he doesn’t want it from brown Mexicans or anywhere else (barring white Europeans).

I find it pretty weird if any non-white person would support Trump due to his standing on terrorism.

All he seems to care about is Whites and Jews..

 

[Napa]

lol But you guys are not. You’re a selected partner to counter the real threat. You might get pleasure in getting rich but the eventual end game doesn’t make India stronger..rather it reinforces the strength of the US. You can surely make some money during the process..no problems with that..that’s exactly what Pakistan has done since the Soviet invasion. If you guys want to learn something from Pakistan then milk the hell out of US before it dump’s the region after their threat has been countered.

You don’t have to look far back in history to see that pattern mr Ivy League.

The problem with Pakistan is not that it was an American ally against the Soviet Union. The problem was that its Army/ISI created jihadist outfits to fight the Soviets, and later they kept those outfits alive to fight India.

Many countries like Singapore, Taiwan, South Korea etc. have got very rich being American allies without the sort of problems Pakistan is now facing. Blaming outsiders for Pakistan's problems can make you feel good, but will not lead to development.

 

[gsivak]

\

Many countries like Singapore, Taiwan, South Korea etc. have got very rich being American allies without the sort of problems Pakistan is now facing.

Well said! The trick is to use US partnership to grow our own industries, especially the hi-tech ones by getting US to committ to technology transfer. Indian companies are smart enough to flourish on their own with just a bit of leg-up.

 

[sshakir411]

The problem with Pakistan is not that it was an American ally against the Soviet Union. The problem was that its Army/ISI created jihadist outfits to fight the Soviets, and later they kept those outfits alive to fight India.

Many countries like Singapore, Taiwan, South Korea etc. have got very rich being American allies without the sort of problems Pakistan is now facing. Blaming outsiders for Pakistan's problems can make you feel good, but will not lead to development.

When did I say the Pakistani problems are because of the US? Having issues with comprehension lately?

The US uses other countries to maintain its strength while diluting others. Korea was used to counter Japan, Singapore for Hong Kong, and Taiwan for China. And India is being used against China.

You can think you’re a natural choice but you’re not. The India and US partnership exists for specific reasons. And it’s not because the US wants to associate with you due to your economy. Basically they’re throwing India a carrot in return to be used as a tool. This is the standard process for American foreign policy.

Your obsession with Pakistani military and ISI is laughable. You feel the need to bring them up even when they’re not part of the topic being discussed.

Grow up man and reply to what’s being posted about. No need to include your bogeyman in every reply to justify your stupidity.

 

[Napa]

When did I say the Pakistani problems are because of the US? Having issues with comprehension lately?

I could have sworn you wrote "If you guys want to learn something from Pakistan then milk the hell out of US before it dump’s [sic] the region after their threat has been countered."

The US uses other countries to maintain its strength while diluting others. Korea was used to counter Japan, Singapore for Hong Kong, and Taiwan for China. And India is being used against China.

I will gladly swap Korea's, Singapore's or Taiwn's per cap GDPs for India's.

You can think you’re a natural choice but you’re not. The India and US partnership exists for specific reasons. And it’s not because the US wants to associate with you due to your economy. Basically they’re throwing India a carrot in return to be used as a tool. This is the standard process for American foreign policy.

If being a "tool" results in a per cap GDP of $30K+ then it works for me.

Your obsession with Pakistani military and ISI is laughable. You feel the need to bring them up even when they’re not part of the topic being discussed.

Grow up man and reply to what’s being posted about. No need to include your bogeyman in every reply to justify your stupidity.

I could have sworn that I was replying to your post in which you wrote "You can surely make some money during the process..no problems with that..that’s exactly what Pakistan has done since the Soviet invasion."

No more replies unless I see something sensible.

 

[Technics 1210]

When Indians resort to Pakistan in news specifically about India, it simply means they accept the facts but attempt to deflect the attention by invoking a comparison with Pakistan. They will never compare with the likes of China or USA, because their deflections attempts are exposed for what they are.

 

[sshakir411]

I could have sworn you wrote "If you guys want to learn something from Pakistan then milk the hell out of US before it dump’s [sic] the region after their threat has been countered."

How does that imply that the US is the sole reason for Pakistani problems? I don’t get it?

I will gladly swap Korea's, Singapore's or Taiwn's per cap GDPs for India's.

If being a "tool" results in a per cap GDP of $30K+ then it works for me.

sure you would. To say it’s a natural partnership because we are the 2 largest democracies in the world is pushing it..India is being used and you don’t mind it because it will benefit your country. That makes more sense. And totally fair. Just say that rather than try to paint a romantic picture where US and India are natural allies LOL

I could have sworn that I was replying to your post in which you wrote "You can surely make some money during the process..no problems with that..that’s exactly what Pakistan has done since the Soviet invasion."

No more replies unless I see something sensible.

Only difference is Pakistan has not been used to achieve any of the US targets in the region since 2001.

 

[Pete Rose]

They have to wait out trump.

 

[Saeed]

India to impose retaliatory tariffs on 28 U.S. goods

NEW DELHI — India will impose higher retaliatory tariffs on 28 U.S. products including almonds, apples and walnuts from Sunday, following Washington's withdrawal of key trade privileges for New Delhi.

https://www.nbcnews.com/news/world/india-impose-retaliatory-tariffs-28-u-s-goods-n1017971

Trump is not going to be happy about it if or when he knows about this.

 

[The Viper]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">India has long had a field day putting Tariffs on American products. No longer acceptable!</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1148573632869875712?ref_src=twsrc%5Etfw">July 9, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[AdamM97]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">India has long had a field day putting Tariffs on American products. No longer acceptable!</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1148573632869875712?ref_src=twsrc%5Etfw">July 9, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Indians were such Trump fans before when he bashed muslims and called out Pakistan on Twitter. I’m having a great time reading the angry replies under his tweet now.

 

[JaDed]

Time to get closer to the “new power brokers”

 

[AdamM97]

Time to get closer to the “new power brokers”

Time for ”isolated Pak” to take full advantage!