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Mon Jun 17, 2019, 09:54 AM

India is hitting the United States with more tariffs [View all]

https://www.cnn.com/2019/06/15/economy/india-tariffs-us-trump/index.html

New Delhi (CNN Business)India just increased tariffs on US exports, dealing another blow to fragile global trade.

The tariffs on 28 US products, announced on Saturday by India's Finance Ministry, went into effect Sunday. The goods targeted include American apples which will be hit with a 70% tariff as well as almonds, lentils and several chemical products.

India first announced plans to impose new tariffs a year ago in retaliation for increased US import duties on Indian steel and aluminum. But it repeatedly delayed imposing them while the two sides held a series of trade talks.

The Indian government did not specify the value of the goods targeted in its statement, but previously told the World Trade Organization that they were worth around $241 million.

The two countries exchange goods and services worth about $142 billion a year, but the relationship has soured in recent weeks after the Trump administration ended India's participation in a preferential trade program earlier this month. The program exempted Indian goods worth more than $6 billion from US import duties in 2018.


Making America Great Again by screwing farmers. Crops will be rotting in storage with fewer buyers.

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