India to impose tariffs on 28 US products
2019-06-16 at 11:51
India says it will impose tariffs on 28 US products, including almonds and apples from today.
The new duties, some as high as 70%, are in response to Washington’s refusal to exempt Delhi from higher taxes on steel and aluminium imports.
Earlier this month, US President Trump also announced the US was withdrawing India’s preferential trade treatment.
Tariffs of up to 120% were announced by India in June last year, but trade talks had delayed their implementation. In an announcement on Friday, India’s Ministry of Finance said the decision was in the “public interest”.
US-India bilateral trade was worth $142bn in 2018, a sevenfold increase since 2001. But $5.6n worth of Indian exports will be hit now the country has lost preferential treatment under America’s Generalized System of Preferences.