Fresherslive Current Affairs;

India to impose retaliatory tariffs on 29 US goods

Last Updated: June 15, 2019

Free Current Affairs to Your Email
India to impose retaliatory tariffs on 29 US goods

India to impose retaliatory tariffs on 29 US goods

15 June 2019 Current Affairs: Ministry of Commerce has announced to impose retaliatory tariffs on US goods that will be effective from June 16 onwards. The retaliatory tariffs on 29 goods imported from the U.S. The Ministry initially decided to  impose tariffs in 2018. The decision is ahead of the meeting between Modi and Trump on the sidelines of the G20 summit in Japan. The move made by the trade ministry was approved by the Ministry of External Affairs.
The tariffs will be applied on $220-290 million worth of goods that are imported from the US, and will have about the same impact as the tariffs imposed by Washington on India in 2018.
Ministry of Finance said that the Commerce ministry will release the official notification of the tariffs before 16 June. 

Why India is imposing tarrifs:
In March 2018, the US imposed 25% tariff on steel and 10% import duty on aluminium. India was one of the major exporters of these items.
Trarrifs on 29 major products ere impacted which includes Chickpeas, Bengal gram, Mansur dal, Boric acid, domestic reagents, apples, Binders for foundry moulds. India repeatedly asked for exemption from these higher tariffs, but US did not respond.
On June 2018, India decided to retaliate by imposing duties but extended the deadline.
On 5 June 2019, the U.S. withdrew export incentives to India under its Generalized System of Preferences (GSP) programme. India was the largest beneficiary of GSP. 
 
Fresherslive Current Affairs;

Daily Current Affairs 2019

Fresherslive Current Affairs;


Subscribe to Current Affairs

Enter your email to get daily Current Affairs
Current Affairs PDF

Current Affairs 2019 October

October 19
News Quiz
October 18
News Quiz
October 17
News Quiz
October 16
News Quiz

Current Affairs 2019 September

September 30
News Quiz
September 29
News Quiz
September 28
News Quiz
September 27
News Quiz

Current Affairs 2019 August

August 31
News Quiz
August 30
News Quiz
August 29
News Quiz
August 28
News Quiz