India retaliates over steel, aluminum tariffs
South Asia country raises prices on bolts, rivets, chickpeas
Add India to the list of countries battling back against President Donald Trump’s decision to enact tariffs on steel and aluminum.
The South Asia country has hiked tariffs on several popular U.S. exports, including chickpeas, lentils, certain shrimp and other agricultural products. It also added tariffs to flat-rolled stainless steel, some tube and pipe fittings, and other construction products.
The Trump administration imposed a 25 percent tariff on imported steel and a 10 percent tariff on aluminum earlier this year in an effort to stop what it said were unfair trade practices by many foreign countries.
India is not considered a major supplier of steel or aluminum to the U.S.; however, Indian officials are worried the U.S. might boost tariffs on products such as pharmaceuticals, which India does supply in large numbers.
It has filed a complaint with the World Trade Organization.