India has agreed to remove additional tariffs on a slew of US products, including almonds and walnuts, according to an announcement by the United States Trade Representative Katherine Tai (see here for press release).
The tariffs were initially put in place as a retaliatory measure in June 2019, following the US increasing tariffs on a number of steel and aluminium products. The removal allows US exporters to sell into India at the same tariff rates as other major suppliers, such as Australia.
On this topic, one US exporter stated, “it’s fantastic news and allows us to compete with Australia on a level playing field rather than being undercut on price. It is also good news for the general Indian populace as these reduced prices should be passed on to consumers.”
To stay up to date on developments in the almond markets, subscribe to the Mintec Weekly Almond Report by emailing Nuts@Mintecglobal.com. The report, which is released each Thursday, provides in-depth information on pricing and market dynamics.
