India to impose retaliatory tariffs on 28 U.S. goods from Sunday

[rooster59]

India to impose retaliatory tariffs on 28 U.S. goods from Sunday

By Nidhi Verma and Neha Dasgupta

 

FILE PHOTO: A man holds the flags of India and the U.S. while people take part in the 35th India Day Parade in New York August 16, 2015. REUTERS/Eduardo Munoz/File Photo

 

NEW DELHI (Reuters) - India will impose higher retaliatory tariffs on 28 U.S. products including almonds, apples and walnuts from Sunday, following Washington's withdrawal of key trade privileges for New Delhi.

 

The new duties take effect from Sunday, a government notification http://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2019/cs-tarr2019/cs17-2019.pdf;jsessionid=05BB93EF9871E631DCA5475F5330BC4E said, in the latest trade row since U.S. President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit.

 

From June 5, President Trump scrapped trade privileges under the Generalized System of Preferences (GSP) for India, the biggest beneficiary of a scheme that allowed duty-free exports of up to $5.6 billion.

 

India termed that "unfortunate" and vowed to uphold its national interests.

 

Reuters previously reported India was preparing to levy higher tariffs ahead of Prime Minister Narendra Modi's first meeting with Trump on the sidelines of a G20 summit in Japan on June 28 and 29.

 

India initially issued an order in June last year to raise import taxes as high as 120% on a slew of U.S. items, incensed by Washington's refusal to exempt it from higher steel and aluminum tariffs.

 

But New Delhi repeatedly delayed raising tariffs as the two nations engaged in trade talks. Trade between them stood at about $142.1 billion in 2018.

 

India on Saturday amended its previous order "to implement the imposition of retaliatory duties on 28 specified goods originating in or exported from USA" while preserving the existing rate for these goods for all other countries, the government notification said.

 

Higher Indian tariffs on U.S. goods could impact growing political and security ties between the two nations.

 

U.S. Secretary of State Mike Pompeo, who is expected to visit India this month, said this week the United States was open to dialogue to resolve trade differences with India, through greater access for American companies to its markets.

 

India is by far the largest buyer of U.S. almonds, paying $543 million for more than half of U.S. almond exports in 2018, U.S. Department of Agriculture data shows. It is the second largest buyer of U.S. apples, taking $156 million worth in 2018.

 

New Delhi's new rules in areas such as e-commerce and data localization have already angered the United States and hit companies such as Amazon.com, Walmart Inc, Mastercard and Visa, among others.

 

(Reporting by Nidhi Verma and Neha Dasgupta; Editing by Andrew Cawthorne)

 

-- © Copyright Reuters 2019-06-16

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[Tug]

Atta boy Donald skrew somemore farmers 

[pegman]

51 minutes ago, Tug said:

Atta boy Donald skrew somemore farmers 

Just yell something about guns and God to the hayseeds and all will be good with them and Trump.

[Tug]

14 minutes ago, pegman said:

Just yell something about guns and God to the hayseeds and all will be good with them and Trump.

Sad but true

[sammieuk1]

India should go for the apples first the rest is just nuts????

[Youlike]

Thailand can't join this game, they already have 100% or more importtax on foreign goods. 

[Longcut]

I wish India would close all their call centers dealing with the U.S.  That'll teach em.

[metisdead]

A troll post containing a trolling representation of Trump's name has been removed. 

[DoctorG]

1 hour ago, pegman said:

Just yell something about guns and God to the hayseeds and all will be good with them and Trump.

Why don't you just call them deplorables, because it worked so well for you last time?

[tomacht8]

So far, Trump has only destroyed the (trade) relationships with many states. (China, 28 EU Member States, Japan, Canada, Mexico, Paris Climate Agreement, UN, Nuclear Agreement, G20, G7, not to speak of chaos in the Middle East and North Korea).

Are there noticeable improvements for the

US Americans now? I mean for the normal USAmericans, not the 3% superrich and the waepon sellers.

 

[spidermike007]

Good, good, good. The only way this super low IQ individual in the very white house is going to budge, or learn anything, is by being punished with a poorly performing economy, which is exactly the direction the US is heading, due to dumb, inane, xenophobia, reality denying tariffs, which are a tax hike on the American people. He will not get re-elected. I forecast the US economy to take a nosedive in late 2019, and 2020. It is the economy stupid!

[spidermike007]

2 minutes ago, tomacht8 said:

So far, Trump has only destroyed the (trade) relationships with many states. (China, 28 EU Member States, Japan, Canada, Mexico, Paris Climate Agreement, UN, Nuclear Agreement, G20, G7, not to speak of chaos in the Middle East and North Korea).

Are there noticeable improvements for the

US Americans now? I mean for the normal USAmericans, not the 3% superrich and the waepon sellers.

 

Absolutely not. The quality of life is diminishing every day in the US, for the bottom 80%. The top 3% are doing exceedingly well. The top 10% too. The top 20% are doing fairly well. The rest? Getting poorer by the day. The middle class in the US is disappearing at a breakneck pace. And Trump does not get the fact that you cannot ask American industry to stop making products overseas. Even if they tried, it takes a decade to switch manufacturing locations, for some of these companies. He will not only be long gone from office (departing in 19 months), but he might be long gone from this earth, after serving a very harsh prison sentence. 

[Kasane]

Trump policies don't make sense on the surface. But he is playing 6th dimensional chess!!

[Morch]

Most of the reports are focused on Trump and the USA, less so on Modi and India. What would these tariffs mean for India's economy, who will be effected and what are the responses are - just some questions which come to mind. How it plays out with regard to Indian politics and how the narrative is used to further these politics are others.

 

 

[marko kok prong]

Sounds like no more Waldorf salads then.

[Redline]

Trump is one dimensional, and doesn’t take into account other aspects of relationships 

[Kiwiken]

If All the Worlds nations imposed 50% tariffs on US goods and traded amongst Ourselves Duty and subsidy free how much our economies would flourish. Let the Wilting Superseller crumble on its own.

[Oxx]

35 minutes ago, Kiwiken said:

If All the Worlds nations imposed 50% tariffs on US goods and traded amongst Ourselves Duty and subsidy free how much our economies would flourish. Let the Wilting Superseller crumble on its own.

 

Why settle for 50%? Why not 100% or 200%? What exactly is it that the US produces that can't be sourced from elsewhere - and probably cheaper and better?

[Benmart]

2 hours ago, tomacht8 said:

So far, Trump has only destroyed the (trade) relationships with many states. (China, 28 EU Member States, Japan, Canada, Mexico, Paris Climate Agreement, UN, Nuclear Agreement, G20, G7, not to speak of chaos in the Middle East and North Korea).

Are there noticeable improvements for the

US Americans now? I mean for the normal USAmericans, not the 3% superrich and the waepon sellers.

 

It sounds like you are not a US citizen, perhaps I am wrong. I am  and my life has improved and I'm not the 3% of anything. Give detailed examples of this trade destruction Mr. Trump has brought about and don't exclude those initiated in the past by former Presidents.

[gamb00ler]

22 minutes ago, Oxx said:

 

Why settle for 50%? Why not 100% or 200%? What exactly is it that the US produces that can't be sourced from elsewhere - and probably cheaper and better?

US exports ranked by value can be found <here>.

 

[Longcut]

Who cares. They are only hurting themselves.

The USA is the second largest import partner of India after China. India is highly dependent on USA products for their industry’s requirements. India goods imports from the United States stood at USD 19.14 billion during 2017. 

[zydeco]

1 hour ago, Redline said:

Trump is one dimensional, and doesn’t take into account other aspects of relationships 

That is true. But, in this case, so is India and Modi. See what happens when the US starts to deny all those H1B visas given out to Indian techies.

[bendejo]

The US has a tariff on figurines made of poor-quality brass?

 

 

[zydeco]

1 hour ago, Kiwiken said:

If All the Worlds nations imposed 50% tariffs on US goods and traded amongst Ourselves Duty and subsidy free how much our economies would flourish. Let the Wilting Superseller crumble on its own.

Too bad nearly all the rest of the world has higher tariffs than the US. Who are you going to sell to? Germany, Japan, Italy, France, UK, Belgium, Netherlands, Hungary, Russia, India, China? All have higher (many have much, much higher) tariffs than the US. No, you just have a mindless hatred for the US.

[Oxx]

38 minutes ago, gamb00ler said:

US exports ranked by value can be found <here>.

 

Nothing to do with the value.  The question is whether there are alternatives to US products, and the answer, pretty much universally, is that there are.

[howbri]

To all those that revel in hating Trump, you ignore the facts. The economy is roaring, ESPECIALLY for the middle class that has ALWAYS taken a beating, especially by the socialist democrats. The Stock market has increased 50%. Check your 401K lately dude? (Say thank you Donald). Trump is trying to right the wrongs of the (recent) past by making our trading partners treat us fairly instead of being a whipping boy for the globalists. The wall WILL be built and we will regain our sovereignty, rightfully so. The globalists and communists had our markets all screwed up and now that Trump is doing something FOR America instead of the rest of the world, they are in a panic. Sorry fellas. 6 more years of success before you get another chance to f_ _ _ things up again.

MAGA !!!!

[atyclb]

does this mean i will pay more for chicken vindaloo ??

[Brickbat]

Oh my goodness....my under is not standing! 

[Longcut]

1 hour ago, Oxx said:

 

Why settle for 50%? Why not 100% or 200%? What exactly is it that the US produces that can't be sourced from elsewhere - and probably cheaper and better?

Security.

Because you are all too cowardly and cheap to provide your own.

[Pedrogaz]

5 hours ago, sammieuk1 said:

India should go for the apples first the rest is just nuts????

Or perhaps target the same farmers as China has to increase the pain on Trump voters.