June 18, 2019 - India has imposed tariffs on 28 U.S. products, including almonds, apples, and walnuts. The increased tariffs follow the U.S.' decision to remove India's preferential trade status.
India had previously issued a notification to the World Trade Organization in May 2018, detailing the goods that would be subjected to additional tariffs and issued several delays during discussions. You can view the list of goods here.
The below HS codes will be revised as follows:
- 38220090: increased to 30.00%
- 29100020: increased to 27.50%
- 07134000: increased to 50.00%
The tariffs will affect an estimated $241 million in goods— affecting agricultural goods such as apples, almonds, and walnuts, as well as chemical and finished metal products. India said the move was “in the public interest” following Trump’s decision to revoke India’s preferential trade privileges.
For your reference, links to the notifications can be found here:
- The Gazette of India, Extraordinary Part II—Section 3—Sub-section (i)
- India Customs Notification No.16/2019
- India Customs Notification No.17/2019
BDP International is actively monitoring this situation to ensure we are supporting our customers with this change in regulation.
As always, should you have any questions or concerns, please reach out to your local BDP representative.
Sources: India Ministry of Finance, Department of Revenue, Business Insider, The Washington Post