Tariffs and trade talks continue to be the biggest topic of conversation for those in the agricultural sector. According to the latest Almond Board of California’s Global Update, India imposed retaliatory tariffs on a list of 28 U.S. goods in response to the U.S. steel and aluminum tariffs which were implemented last year. This also came after the U.S. removed India’s trade privileges under the Generalized System of Preferences.
This is of particular interest for Almond farmers in California, who make up 80% of the world’s global supply. India is California’s number one almond market and almonds are the top U.S. agricultural export to India with a value of $657 million in 2017, according to Dan Wheat of the Capital Press.
Almond Board vice president Julie Adams says tariffs in China are responsible for the increased business in India. But the question now becomes, what happens to those gains in the wake of these tariffs put in place by India?
Michelle Connelly, executive director of the California Walnut Board, says quote, “The additional 20% tariff puts California at a disadvantage to other producers entering the market. We are extremely disappointed we could not reach a resolution on the ongoing tariff issues.”