APD | India imposes retaliatory tariff on 28 US goods

By APD writer Rishika Chauhan

New Delhi, June 17 (APD) - India has decided to impose tariffs on 28 products that it procures from the US. The announcement was made on Sunday.

The duties are imposed on a range of goods it imports, including almonds and apples. The Indian measure is being understood as a retaliatory act and reaction to US’ withdrawing India’s preferential trade treatment.

According to reports, some of the new duties are as high as 70 percent. The final notification on taxes was issued by the finance ministry on Saturday night, and minutes after the cost of importing those goods was increased.

This move is being understood as President Trump’sway to redress unfair trading relationships with other countries.

However, the issue has created tensions between India and the US. The Indian Foreign Minister, Subrahmanyam Jaishankar, would be meeting President Trump soon.

President Trump has initiated the program under which the US’ is withdrawing from the treaties. Meanwhile, in 2018 US-India bilateral trade was worth $142b, showing a significant increase in the past few years.

(ASIA PACIFIC DAILY)