The government, after dragging its feet for almost a year, has decided to increase tariffs on 29 high-value US agricultural and industrial imports by up to 50 per cent. This will take effect on June 16.
Originally slated to be clamped on August 4 last year, the tariffs were deferred eight times. But now several government sources have confirmed this is part of a “retaliatory measure” against the Trump administration, despite the Customs authorities officially not terming it as such.
The move comes after Washington DC paid no heed to New Delhi’s request to exempt India from the higher tariffs