A further delay to India’s retaliatory tariffs against some US imports has occurred due to negotiations between New Delhi and Washington aimed at removing trade frictions.
Reuters reported New Delhi had planned to raise import taxes on a number of items including US almonds, walnuts and apples, on August 4, which was later delayed until today September 18. However, amid ongoing negotiations the nation has decided to postpone again, now until 2 November.
The initial retaliation came after Washington refused to exempt India from new steel and aluminium tariffs.
Gagan Khosla CEO of NGK Trading told Asiafruit that apple prices have been rising significantly since March.
“[The Indian rupee] has depreciated over 15 per cent since March this year. This has resulted in products like apples to become 23 per cent more expensive,” said Khosla. “This is beginning to show its effect in slowing sales, [and] retail prices are at the highest level ever.”
Khosla predicts the effect of the slide will be lower imported apple volumes.