India to impose tariffs on some US goods in September

File photo showing cargo containers in India, where new higher tariffs against some goods imported from the United States will go into force on Sept 18, 2018.
File photo showing cargo containers in India, where new higher tariffs against some goods imported from the United States will go into force on Sept 18, 2018.PHOTO: REUTERS

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

New Delhi, incensed by Washington's refusal to exempt it from new tariffs, decided in June to raise import tax from Aug 4 on some US products, including almonds, walnuts and apples, and later delayed the move.

Trade differences between India and the US have been rising since President Donald Trump took office.

Bilateral trade rose to US$115 billion (S$157 billion) in 2016, but the Trump administration wants to reduce its US$31 billion deficit with India, and is pressing New Delhi to ease trade barriers.

India, the world’s biggest buyer of US almonds, in June decided to raise import duties on the commodity by 20 per cent, 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 per cent duty on the import of walnuts in the strongest action yet against the US.

India has proposed to buy petroleum products from the US to help narrow the trade deficit.

The US has also emerged as a top arms supplier to India and US companies are bidding for military aircraft deals worth billions of dollars.