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The termination of the GSP facility is a way for US President Donald Trump to pressure countries that have large trade surpluses with the US.
But India has repeatedly delayed raising tariffs because the two countries are involved in trade talks.
WW3 - After a trade war with China, now the United States "invites war" with India.
India will impose higher retaliation rates on 28 US products including almonds, apples and walnuts, starting Sunday (06/16/2019).
This Indian response follows a decision by the United States to stop the Generalized System of Preferences (GSP) trade facility with India starting June 5, 2019.
The termination of the GSP facility is a way for US President Donald Trump to pressure countries that have large trade surpluses with the US.
India is the largest beneficiary country of the GSP scheme, which allows duty-free exports up to US $ 5.6 billion.
India called the termination of the GSP facility "unlucky" and vowed to uphold its national interests.
Earlier Reuters reported by Kontan, reported, India was preparing to impose higher tariffs ahead of Prime Minister Narendra Modi's first meeting with Trump on the sidelines of the G20 Summit in Japan on June 28 and 29 2019.
India initially issued an order in June last year to raise import taxes as high as 120 percent on products from the United States, after the United States refused to free import tariffs on steel and aluminum.
But India has repeatedly delayed raising tariffs because the two countries are involved in trade talks.
Trade between the United States and India reached around 142.1 billion US dollars in 2018.
Now, India acts decisively and applies import tariffs in return for 28 certain items originating from or exported from the United States.
Higher Indian import tariffs for US goods can have an impact on increasing political and security ties between the two countries.
US Secretary of State Mike Pompeo, who is scheduled to visit India this month, said the United States was open to dialogue to resolve trade differences with India, through greater access for American companies to market.
India is the largest buyer of almonds in the United States, worth 543 million US dollars.
More than half of US almond exports in 2018 flow to India, according to US Department of Agriculture data.
India is also the second largest buyer of US apples, with a value of 156 million US dollars in 2018.
Previously, India's new regulations in fields such as e-commerce and data localization had angered the United States for hitting companies such as Amazon.com, Walmart Inc., Mastercard and Visa.
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