India Imposes 20% Import Duty on US Almonds

As the largest importer of almonds from the United States, India went about imposing the first of its threatened retaliatory tariffs on 30 US goods that it imported, enforcing a 20% import duty on almonds. While this is a small step in actual retaliation for the United States as an ally and trade partner, the move suggests the seriousness with which India is unwilling to put up with the tariffs that were set on its exports to the US, predominantly steel and aluminium. These are the same items that have seen tariffs imposed against other, major exporters of these goods to the US, most notable the EU and Canada.

In what can be seen as an act of aggressive intent, India also imposed a 120 percent import duty on walnuts. This was seen to be the most stern reaction to the US tariffs yet, and while more of the same is expected in the near future, the Indian government has stated a deadline of 4th August by which it will impose the remainder of tariffs intended to be done so on a list of 30 items that it currently imports from the US. Currently, there are attempts being made by the United States Trade Representative (USTR) looking to engage his Indian counterpart in dialogue to limit the damage to the trade between both of these countries. However, the involvement of other countries similarly affected by the tariffs gives India some level of advantage in its negotiating stance. The duties on almonds and walnuts come a day after the European Union announced it would impose retaliatory tariffs of 25% on a list of imports from the US.