India further delays retaliatory import tariffs on U.S. products

“India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday,” Reuters reports. “The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.”

“Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples,” Reuters reports. “But since then, New Delhi has repeatedly delayed the implementation of the new tariff.”

“U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States,” Reuters reports. “In a further blow, U.S. on Monday demanded buyers of Iranian oil [which includes India] stop purchases by May or face sanctions.”

Read more in the full article here.

MacDailyNews Take: Hopefully, the U.S. and India can end up with a nice balanced trade agreement sooner than later!

SEE ALSO:
The global system of trade is being realigned; how investors should navigate globalization’s decline – April 19, 2019
Apple supplier Foxconn to begin iPhone X assembly in India; XS and XS Max also planned – April 12, 2019
Foxconn gearing up for trial run to make Apple’s newest X-class iPhones in India – April 2, 2019

4 Comments

  1. CitizenX is a socialist adherent, me, not a bit. There’s the difference between our names. The U.S. Constitution and certain English common law(s) is the basis for our legal system and I respect it. All others need not apply.

    1. Huh? Are you confused?
      There is a difference between our names. I am an original. You are a pathetic copy and troll without an original thought in your head.

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