14 August 2018

India to impose increased tariffs on US import goods in fall

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Indian authorities decided in June to increase import levy from August 4 on some US goods, including almonds, walnuts and apples, however, the move was later delayed. On Saturday, New Delhi said that new tariffs against products imported from the United States will go into force on September 18, Reuters reported.

Trade row between Washington and New Delhi has been emerging since US President Donald Trump took his office. According to Reuters, bilateral trade rose to $115 billion in 2016. However, Trump administration reportedly seeks to reduce its $31 billion trade deficit with India and is pressing New Dehli to ease trade barriers.

In late March, the United States imposed 25-percent and 10-percent tariffs on imported steel and aluminum, respectively. According to US President Donald Trump, the tariffs will be in place for a long time.

According to the WTO, India argues that the US imposed duties are not in line with the organization's General Agreement on Tariffs and Trade (GATT) of 1994.

In turn, the United States filed a counter notification with the World Trade Organization (WTO) about India's distortive market price support for wheat and rice.

2018.08.04 / 10:30
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