New duties -

New duties

India imposed duties on 28 goods from the United States.

New duties

India introduced higher return rates for 28 American products, including almonds, apples and walnuts, after Washington abolished trade preferences for New Delhi. This decision by Donald Trump intended to make after taking office as US President in 2017, promising to act more actively against countries with which Washington has a large trade deficit.
New duties come into force on June 16, according to a notice to the American administration. Earlier it was reported that India is preparing to charge higher rates on the eve of the first meeting of Prime Minister Narendra Modi with Donald Trump on the sidelines of the G20 summit in Japan on June 28 and 29.
On June 5, the head of the White House abolished trade privileges under the Generalized System of Preferences (GSP) for India, the largest beneficiary of this scheme, which allowed it to export duty free goods worth up to $ 5.6 billion. Indian authorities called this decision "erroneous" and promised to defend the national interests of the state.

In June last year, the government of India issued a decree on increasing import taxes up to 120% on a variety of goods from the United States, which was caused by Washington’s refusal to exempt this country from raising steel and aluminum tariffs. However, in practice, New Delhi has repeatedly postponed the increase in tariffs, since the two countries have been actively trading. In 2018, the trade turnover between them amounted to about 142.1 billion dollars.

Finally, on June 15, the authorities of India nevertheless ordered "to introduce reciprocal duties on 28 goods produced in the United States or exported from the United States," while maintaining the existing tariff on these goods for all other countries, the Indian government said in a notice. New tariffs for American products in areas such as e-commerce and data localization have already angered the United States and have hit companies like, Walmart Inc., Mastercard and Visa.
An increase in Indian duties on American goods, according to experts, may affect the level of political and security relations between the two countries.

US Secretary of State Mike Pompeo, who is expected to visit India as early as June, said that this week the United States was open to dialogue on resolving trade disputes with India by expanding access for US companies to its markets, but New Delhi allegedly did not "sufficient measures" to resolve this issue.

According to the US Department of Agriculture, India is the largest buyer of American almonds. So, she paid $ 543 million for more than half of US exports of almonds in 2018. This is the second largest buyer of American apples, which acquired them in 2018 in the amount of 156 million dollars.

Source: Russian newspaper

17.06.2019 09:08:25
(Automatic translation)

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