Indian tariffs on US goods ‘no longer acceptable!’ – Trump

US President Donald Trump once again slammed India’s retaliatory tariffs against American goods on Tuesday. The two countries have been engulfed in a trade dispute, hitting each other with tit-for-tat tariffs.

“India has long had a field day putting Tariffs on American products. No longer acceptable!” Trump wrote on Twitter.

His statement comes after India introduced higher tariffs on 28 US products, including almonds, apples and walnuts, in response to Washington’s withdrawal of key trade privileges for New Delhi. The tariffs are aimed at allowing India to receive around $217 million in additional revenue from US imports.

The standoff between the United States and India began last March, when Trump imposed a 25 percent import duty on steel and 10 percent tariffs on aluminum products. Being a major exporter of those items to the American market, India was hit hard by the move, losing around $240 million.

The sides have unsuccessfully tried to find common ground for over a year. In June, the US withdrew export incentives from Indian companies under its Generalized System of Preferences (GSP) program, affecting $5.5 billion worth of goods.

The two countries have been major trade partners during the past decade, with turnover between them standing at over $142 billion in 2018.

For more stories on economy & finance visit RT's business section