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India imposes retaliatory tariffs on US goods

India has decided to levy retaliatory tariffs on 29 US products after the latter removed India from the GSP regime. The tariffs became effective on Sunday, June 16. 2019. A government official with knowledge of the developments stated, “The matter will be notified by the finance ministry tonight or tomorrow, before the Sunday deadline.” Retaliatory tariffs of around US$ 200 million on US$ 1.4 billion worth of US product imports have been repeatedly postponed since June last year and the present deadline expired on June 16. Originally, the tariffs were planned to retaliate against US tariffs on certain steel and aluminium products. The Indian government had termed the US decision on GSP withdrawal as unfortunate and vowed to protect the “national interest” in these matters.