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India To Levy Retaliatory Tariffs On 29 US Products
In what could mean aggravating trade spat between India and the US, India has took a decision to implement the long-pending retaliatory tariffs on 29 US products. Earlier, the levy of such tariffs was postponed until June 16 as the country was going through 19th Lok Sabha elections.
The decision comes a week after the US suspended its duty-free benefits for exporters from the country.
The announcement in respect of levy of retaliatory tariffs on US goods worth $235 million was first made on June 20, 2018, but since then it has been repeatedly deferred.
Further, the decision by India has been taken ahead of the meet of PM Modi and the US President Trump on June 28-29 on the sidelines of the G20 summit meet in Japan.
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