{"id":2389,"date":"2019-06-22T01:51:42","date_gmt":"2019-06-22T01:51:42","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=2389"},"modified":"2019-06-22T01:51:43","modified_gmt":"2019-06-22T01:51:43","slug":"india-to-impose-retaliatory-tariffs-on-29-us-goods","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/india-to-impose-retaliatory-tariffs-on-29-us-goods\/","title":{"rendered":"India to impose retaliatory tariffs on 29 US goods"},"content":{"rendered":"\n

Ministry of\nCommerce<\/strong>has\nannounced to impose\nretaliatory tariffs on US goods<\/strong> that will be effective\nfrom June 16\nonwards<\/strong>. The retaliatory tariffs on 29 goods imported f<\/strong>rom\nthe U.S. The Ministry initially decided to  impose tariffs in 2018. The\ndecision is ahead of the meeting between Modi and Trump <\/strong>on the sidelines of\nthe G20 summit in\nJapan.<\/strong>The move made by the trade ministry was approved by\nthe Ministry of\nExternal Affairs.<\/strong>
\nThe tariffs will be applied on $220-290 million worth of goods<\/strong> that\nare imported from the US, and will have about the same impact as the tariffs\nimposed by Washington on India in 2018.
\nMinistry\nof Finance<\/strong> said that\nthe Commerce\nministry <\/strong>will release the official notification of the\ntariffs before 16 June. 
\n
\nWhy\nIndia is imposing tarrifs:<\/strong>
\nIn March 2018, the US imposed 25% tariff on steel and 10%<\/strong> import\nduty on aluminium<\/strong>.\nIndia was one of the major exporters of these items.
\nTrarrifs on 29 major products ere impacted which\nincludes Chickpeas, Bengal gram, Mansur dal, Boric acid, domestic reagents,\napples, Binders for foundry moulds. India repeatedly asked for exemption from\nthese higher tariffs, but US did not respond.
\nOn June 2018, India decided to retaliate by imposing duties<\/strong> but\nextended the deadline.
\nOn 5 June 2019, the U.S. withdrew export\nincentives to India under its Generalized\nSystem of Preferences (GSP) programme. <\/strong>India was the largest beneficiary<\/strong> of\nGSP.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ministry of Commercehas 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 […]<\/p>\n","protected":false},"author":13,"featured_media":2390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[],"class_list":["post-2389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=2389"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2389\/revisions"}],"predecessor-version":[{"id":2391,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/2389\/revisions\/2391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/2390"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=2389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=2389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=2389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}