Unfortunate move, says India as Donald Trump ends Preferential Trade Status

India has expressed disappointment at the decision of the United States to end the country’s designation as a beneficiary nation under a key preferential trade programme, despite offer of a “resolution on significant US requests to find a mutually acceptable way forward”.

“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,” the commerce ministry said in a statement.

The statement further said, “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.”

“We are confident that the two Nations will continue to work together intensively for further growing these ties in a mutually beneficial manner,” it added.

“India, like the US and other nations shall always uphold its national interest in these matters,” it said.

On Friday President Donald Trump said on that the United States would end its preferential trade treatment for India on June 5.