NEW DELHI – India will impose higher retaliatory duties on Sunday for 28 US products, including almonds, apples and walnuts, after Washington has removed the most important trading privileges for New Delhi.
The new tariffs will take effect on Sunday, said in the recent trade dispute since the inauguration of US President Donald Trump in 2017 vowed to tackle countries with which Washington has a large trade deficit.
From June 5, President Trump scrapped trading privileges under the Generalized System of Preferences (GSP) for India, the largest beneficiary of a regime that allowed duty-free exports of up to $ 5.6 billion.
India described this as "unfortunate" and promised to uphold its national interests.
India was preparing to impose higher tariffs ahead of the first meeting of Prime Minister Narendra Modi with Trump on the sidelines of a G20 summit in Japan on June 28 and 29, or taxes of up to 1
But New Delhi repeatedly delayed the tariff increase as the two nations participated in trade talks. Trade between them in 2018 amounted to about 142.1 billion US dollars. India has changed its previous order on Saturday to "implement the imposition of retaliatory tariffs on 28 certain US-origin or export-based goods", with the existing tax rate for these goods being retained for all other countries, it said government notification.
Higher Indian tariffs on US goods could impact on growing political and security relations between the two nations.
US Secretary of State Mike Pompeo, who is expected to visit India this month, said the US is open for dialogue this week to resolve trade differences with India through better access of US companies to its markets, according to US Department of Agriculture data It is the largest buyer of US almonds, paying $ 543 million in 2018 for more than half of US almond exports. With a value of $ 156 million in 2018, New Delhi is the second largest consumer of US apples.
The new rules of New Delhi in areas such as e-commerce and data localization have already angered the US and companies like Amazon.com and Walmart have hit Inc, Mastercard and Visa, among others.