According to U.S. government officials, India has reportedly decided to remove retaliatory tariffs on eight U.S. products, and of the eight, six are agricultural products. The decision was reached during Prime Minister Narendra Modi's recent state visit to the US. Back in 2019, India placed tariffs on these eight products in response to the US increasing tariffs on certain steel and aluminum products the year before.
The Products
Chickpeas
Lentils
Fresh or Dried Almonds
Shelled Almonds
Walnuts
Fresh Apples
Boric Acid
Diagnostic Regents
“Removal of these tariffs is a major win for America’s farmers, building on the $15 billion in new or preserved market access for agricultural products that USDA and USTR have delivered,” said U.S. Agriculture Sectretary Tom Vilsack. “Producers will now be able to increase sales of apples, chickpeas, lentils, almonds, and walnuts to one of the United States’ top trading partners.
The United States is India's largest trading partner, and the bilateral goods trade between the two countries increased to $128.8 billion in 2022-23, up from $119.5 billion in 2021-22.
“Prime Minister Modi’s visit has underscored the importance of the U.S.-India bilateral relationship and our cooperation on a range of shared priorities. Today’s agreement represents the culmination of intensified bilateral engagement over the last two years, including through the U.S.-India Trade Policy Forum, to deepen our economic and trade ties,” saidAmbassador Katherine Tai. “As a result of our work, U.S. agricultural producers and manufacturers will now enjoy renewed access to a critical global market and we will strengthen our trade relationship with one of our closest partners. I look forward to continue to working with my counterpart, Minister Goyal, as we identify additional ways to bring our people and our economies together.”
Click here to read the exchange letters between India and the United States.
