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India has established import duties on 28 US products, including almonds, apples and nuts. The new rights are a response to US steel and aluminum import rates from India that US President Donald Trump introduced earlier this month.
The Indian government claims that the new import rates serve the "public interest" of the country. 19659003] With the charges, Trump wanted to make it clear that he thought that India was not opening its home market enough to American corporations. In response, India now imposes taxes of up to 70% on US products, which makes them much more expensive.
Surcharges on almonds can certainly hit American farmers. Half of the country's almond exports go to India; this trade represents a value of more than 540 million dollars (more than 481 million euros).
Trump asks India to stop buying Iranian oil
Sales of American apples in India are also important; About $ 160 million is traded with the country each year. Total trade between the two countries amounted to $ 140 billion last year
The fact that India continues to buy oil from Iran, a country against which the United States imposed sanctions, is also troubling. In addition, Trump does not want India to buy a missile defense system from the Russians.
US and India likely to discuss at G20
New tariffs are announced just before the G20 summit in Japan at the end of June. Here, the biggest economies in the world are talking to each other. Representatives of the US and Indian governments are expected to meet in Osaka privately. Perhaps Trump and newly re-elected Indian Prime Minister Modi also meet at the G20.
The United States is also engaged in a terrible trade war with China for months. In a fire letter, nearly 700 American companies called on Trump to end the fight last week. Signatories, including large corporations such as Walmart, Levi Strauss and Primark, say that US-imposed import tariffs on China primarily affect US firms.
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