Indian government announced that it will impose higher tariffs on 28 US products, including almonds, apples and walnuts, tomorrow, in response to Washington’s withdrawal of key trade privileges for New Delhi.
An order to raise import taxes as high as 120 percent on a number of American-made goods was issued by the Indian government in June 2018. But it was delayed by New Delhi on several occasions as its trade talks with Washington were ongoing.
The new tariffs would allow India to receive around $217 million additional revenue from US imports, a source told the Times of India earlier.
The standoff between New Delhi and Washington began last March, when US President Donald Trump imposed 25 per cent import duty on steel and 10 per cent tariffs on aluminum products. Being a major exporter of those items to the American market, India was hit hard by the move, losing around $240 million.