Jeff Daniels, CNBC
Published 4:24 PM ET Thu, 19 July 2018
American fresh apple and tree nut producers could see a bigger bite out of their export business starting next month if India follows through with its threat to impose retaliatory duties in response to U.S. imported steel tariffs.
India notified the World Trade Organization back in May it planned to implement tariffs on a variety of U.S. products, including walnuts, almonds and apples, in retaliation for President Donald Trump’s duties on steel and aluminum imports. India is the second-largest destination of California almonds after the European Union and one of the top overseas markets for U.S. apples.
India targeted American apples with an additional 25 percent customs duty, which when added with the existing 50 percent levy will increase the import tax to a hefty 75 percent. India also is adding a 20 percent tariff on almonds and a whopping 120 percent levy on walnuts. India’s new tariffs are set to take effect Aug. 4.