The new duties take effect from Sunday, said a government notification in the latest trade row since US President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit. (File photo)
New Delhi:
After US President Donald scrapped trade privileges to India under the Generalized System of Preference (GSP) from June 5, India will impose higher retaliatory tariffs on 28 US products including almonds, apples and walnuts from Sunday. The new duties take effect from Sunday, said a government notification in the latest trade row since US President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit.
The move will hurt American exporters of these 28 items as they will have to pay higher duties, making those items costlier in the Indian market. It will impact goods worth $5.5 billion from India to America.
Amending its June 30, 2017, notification, the Central Board of Indirect taxes and Customs (CBIC) said Saturday's notification will "implement the imposition of retaliatory duties on 28 specified goods originating in or exported from USA and preserving the existing MFN rate for all these goods for all countries other than USA".
What becomes costlier:
(With agency inputs)