India to impose delayed retaliatory tariff hikes on some US goods in September

New Delhi: The government said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on 18 September.

New Delhi, incensed by Washington’s refusal to exempt it from new tariffs, decided in June to raise import tax from 4 August on some US products, including almonds, walnuts and apples, and later delayed the move.

Officials from New Delhi and Washington, including US Secretary of State Mike Pompeo and Defense Secretary Jim Mattis, are scheduled to hold a series of meetings including strategic talks with their Indian counterparts in September.

Trade differences between India and the United States have been rising since President Donald Trump took office. Bilateral trade rose to $115 billion in 2016, but the Trump administration wants to reduce its $31 billion deficit with India, and is pressing New Delhi to ease trade barriers.

India to impose delayed retaliatory tariff hikes on some US goods in September

Representational image. News18

India, the world’s biggest buyer of US almonds, in June decided to raise import duties on the commodity by 20 percent, joining the European Union and China in retaliating against Trump’s tariff hikes on steel and aluminum.

It had also planned to impose a 120 percent duty on the import of walnuts in the strongest action yet against the United States.

India has proposed to buy petroleum products from the US to help narrow the trade deficit. The United States has also emerged as a top arms supplier to India and US. companies are bidding for military aircraft deals worth billions of dollars.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.

Updated Date: Aug 04, 2018 11:40:14 IST

Also See