UPDATE 1-India to impose delayed tariffs on some U.S. goods in September

August 05, 2018 / in.investing.com / Article Link

(Adds details, background)

NEW DELHI, Aug 4 (Reuters) - India said on Saturday that delayed higher tariffs against some goods imported from the United States will go into force on September 18.

New Delhi, incensed by Washington's refusal to exempt it from new tariffs, decided in June to raise import tax from August 4 on some U.S. products, including almonds, walnuts and apples, and later delayed the move.from New Delhi and Washington, including U.S. 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, the world's biggest buyer of U.S. 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 aluminium.

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 U.S. to help narrow the trade deficit. The United States has also emerged as a top arms supplier to India and U.S. companies are bidding for military aircraft deals worth billions of dollars.

Recent News

Smaller juniors still financed even in more cautious market

January 13, 2025 / www.canadianminingreport.com

Gold stocks shrug off equity market decline on metal gain

January 13, 2025 / www.canadianminingreport.com

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok