The Indian government will apply duties on 30 products in retaliation for America’s section 232 duties on steel and aluminum. The products covered were worth $1.6 billion in the 12 months to April 30 and were led by almonds (45%), apples (8%) and phosphoric acid (8%). The products have been chosen for a variety of reasons. In the case of almonds the U.S. accounted for 86% of Indian imports indicating protection of domestic industry. In the case of phosphoric acid there may be political signaling at work as the U.S. only accounted for 11% of Indian supplies with an outsize impact on South...