India Plans to Hike Tariffs on Some US Goods on June 16 After Year of Delays - Reports
India plans to impose higher tariffs on 29 US goods starting June 16, one year after New Delhi announced its decision to retaliate against Washington's tariffs on imported steel and aluminum, media reported on Friday, citing sources
The United States imposed 25 percent and 10 percent tariffs on imported steel and aluminum, respectively, in March 2018. India immediately condemned the move since the country is one of the largest steel producers in the world. India's retaliatory duties were postponed six times, however, in view of the trade dialogue between the two countries.
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According to The Economic Times newspaper, New Delhi is finally set to levy higher tariffs, which will target US walnuts, chickpeas, lentils, boric acid and diagnostic reagents, among other goods. The highest among them will be the 60 percent duty on chickpeas.
"There will be no further extension of the retaliatory tariffs," the source said, as quoted by the media outlet.
The tariffs will impose an additional burden of $200 million on these goods, the publication said.
The Indian Ministry of Commerce and Industry has not commented on this information so far.