India will increase tariffs on US exports effective June 16, the country's finance ministry said. Goods targeted include apples, almonds, lentils and several chemical products.
The tariffs on several US products will go into effect on June 16, India's finance ministry said in a statement Saturday. The goods targeted include American apples — which will be hit with a 70% tariff — as well as almonds, lentils and several chemical products.India first announced plans to impose new tariffs a year ago in retaliation for increased US import duties on Indian steel and aluminum. But it repeatedly delayed imposing them while the two sides held a series of trade talks.
The two countries exchange goods and services worth about $142 billion a year, but the relationship has soured in recent weeks after the Trump administration ended India's participation in a preferential trade program earlier this month. The program exempted Indian goods worth more than $6 billion from US import duties in 2018. Read MoreOne of President Donald Trump's biggest priorities has been reducing the United States' trade deficits with countries around the world.
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