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India's retaliatory tariffs to hit US exports worth USD 900 mn: US Congressional report

03-Jan-2019
India's retaliatory tariffs to hit US exports worth USD 900 mn: US Congressional report

India's proposed retaliatory tariffs against US agricultural products including apples, almonds and lentils will have an adverse impact on American exports worth nearly USD 900 million, according to the latest Congressional report.

India last year announced higher import duties on many US products like apples, almonds, walnuts, chickpeas and lentils in retaliation to President Donald Trump's decision to impose heavy tariffs on imported steel and aluminium items, a move that sparked fears of a global trade war.

However, India is the only major Country which has been continuously postponing the implementation of the retaliatory tariffs despite announcing it more than six months ago.  In October last year, Trump described India as a "tariff king" as he reiterated his allegations that New Delhi has a high tariff rate on various American products.

India's proposed retaliatory tariffs are far less than that by China on more than 800 American agricultural products which accounted for approximately USD 20.6 billion in exports to the US in 2017.

China is followed by Canada (USD 2.6 billion), Mexico (USD 2.5 billion), the European Union (EU) (USD 1 billion) and Turkey (USD 250 million) in slapping retaliatory tariffs on the agricultural products from the US.



Source :- Dailyshippingtimes.com

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