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India will impose tariffs on 29 products of the United States to fight back, and the United States w

according to the times of India and other media reports, India will impose retaliatory tariffs on 29 kinds of US goods from June 16 to counterattack the US decision to terminate India's GSP trade status. The Wall Street Journal said that the effective time of this decision coincided with a few days before us secretary of state pompeio planned to visit India. His visit was intended to "strengthen us India Relations".

The US government's decision to terminate India's GSP trade status officially came into force on June 5. Affected by this, more than 2900 Indian goods exported to the United States with a value of about US $5.6 billion can no longer enjoy the tariff relief previously provided by the United States. On the 14th, the times of India quoted government sources as saying that after several delays, India decided to impose additional tariffs on 29 kinds of American products, including almonds, walnuts, beans and iron plate rolled products, with the tax rate up to 120%. The Indian Ministry of finance will issue relevant notices soon.

On the 14th, the Wall Street Journal quoted an unnamed Indian official as saying, "this is not revenge. We have waited for a year and now decide to move forward.". In March last year, the trump administration announced the imposition of tariffs on imported steel and aluminum products. India was also one of the victims. In June, the Indian government threatened to launch retaliatory countermeasures against 29 products from the United States. However, the effective time of this measure was delayed again and again. During this period, the United States not only did not cancel the tariffs imposed on Indian steel and aluminum products, but also terminated India's GSP trade status.

Before India decided to launch retaliatory tariff measures against the United States, US Secretary of Commerce Ross just delivered a speech on US India relations. According to the Indian Press Trust reported on the 13th, when Ross attended the Indian creativity summit in Washington that day, he described India as a 'high tariff market' and urged modi government to strengthen reform and further open the market and economy. Ross also said that he will visit India soon to discuss and solve key issues in India US economic and trade relations.

Indian financial media Mint website analyzed on the 14th that the time node when India announced the imposition of retaliatory tariffs on the United States is worth pondering, because modi and trump will meet at the G20 summit in Osaka, and US Secretary of state pompeio will also visit India before the G20. Indian Minister of Commerce and industry Goyal just said on the 13th that the cancellation of India's GSP status by the United States is not a "life and death issue" for India.