India will impose higher retaliatory tariffs on 28 U.S. products including almon...
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.
From June 5, President Trump scrapped trade privileges under the Generalized System of Preferences for India, the biggest beneficiary of a scheme that allowed duty-free exports of up to $5.6 billion.Reuters previously reported India was preparing to levy higher tariffs ahead of Prime Minister Narendra Modi’s first meeting with Trump on the sidelines of a G20 summit in Japan on June 28 and 29.
But New Delhi repeatedly delayed raising tariffs as the two nations engaged in trade talks. Trade between them stood at about $142.1 billion in 2018. Higher Indian tariffs on U.S. goods could impact growing political and security ties between the two nations.
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