Close X
Wednesday, December 25, 2024
ADVT 
India

In Tit-For-Tat, India Hikes Import Duties On US Agri Products

IANS, 21 Jun, 2018 01:29 PM
    In a retaliatory move, India has hiked customs duty on several goods, including Bengal gram, lentils and artemia, imported from the United States.
     
     
    The import duty hike would be effective from August 4, the Finance ministry said in a notification.
     
     
    The import duty on chickpeas and Bengal gram has been increased to 60 per cent, while that on lentils has been hiked to 30 per cent. The other products on which duties have been hiked include certain kind of nuts, iron and steel products, apples, pears, flat rolled products of stainless steel, other alloy steel, tube and pipe fittings, and screws, bolts and rivets.
     
     
    The duty on boric acid and binders for foundry moulds has been hiked to 7.5 per cent, while that on domestic reagents was raised to 10 per cent.
     
     
    Duty on artemia, a kind of shrimp, has been hiked to 15 per cent.
     
     
    However, there was no duty hike on motorcycles imported from the US.
     
     
    Last week, India had submitted to the WTO a revised list of 30 items on which it proposed to raise customs duties by up to 50 per cent.
     
     
    The move was in retaliation to the duty hike by the US on certain steel and aluminium products which had tariff implication of USD 241 million on India.
     
     
    The duty hike by India would have an equivalent tariff implications for the US.
     
     
    Sources said out of 30 items proposed, India has "excluded motorbikes above 800 cc. Now additional customs duties have been imposed on 29 items."
     
     
    On March 9, US President Donald Trump imposed heavy tariffs on imported steel and aluminium items, a move that has sparked fears of a global trade war.
     
     
    India has said the duty imposed by the US has affected steel exports by USD 198.6 million and aluminium shipments by USD 42.4 million.
     
     
    India has also dragged the US to the World Trade Organisation's (WTO) dispute settlement mechanism over the imposition of import duties on steel and aluminium.
     
     
    India exports steel and aluminium products worth about USD 1.5 billion to the US every year.
     
     
    India's exports to the US in 2016-17 stood at USD 42.21 billion, while imports were USD 22.3 billion. 

    MORE India ARTICLES

    History Won't Forgive BJP For Its Greed, Says Sena On Jammu and Kashmir

    In a vitriolic attack on the BJP, the Shiv Sena today charged that the BJP opted out of power in Jammu and Kashmir after spreading anarchy, and said history will never forgive the party for its "greed".

    History Won't Forgive BJP For Its Greed, Says Sena On Jammu and Kashmir

    Harassed By Stalker, Kanpur Girl Sets Herself Ablaze

    Harassed By Stalker, Kanpur Girl Sets Herself Ablaze
    The complainant said that the accused barged into their house and attempted to outrage the girl's modesty following which she set herself ablaze after pouring kerosene

    Harassed By Stalker, Kanpur Girl Sets Herself Ablaze

    Banks Denied Me Loan Because I'm Transgender, Says Bengaluru Activist Akkai Padmashali

    Banks Denied Me Loan Because I'm Transgender, Says Bengaluru Activist Akkai Padmashali
    Akkai Padmashali said she does not want to return as a sex worker and deserves to lead a dignified life.

    Banks Denied Me Loan Because I'm Transgender, Says Bengaluru Activist Akkai Padmashali

    VIDEO: AAP's Legislator Amarjeet Singh Sandoa Allegedly Attacked By ‘Mining Mafia’ In Punjab

    VIDEO: AAP's Legislator Amarjeet Singh Sandoa Allegedly Attacked By ‘Mining Mafia’ In Punjab
    Amarjeet Singh Sandoa's turban was tossed up during the attack and two of his security personnel were also thrashed.

    VIDEO: AAP's Legislator Amarjeet Singh Sandoa Allegedly Attacked By ‘Mining Mafia’ In Punjab

    Manish Sisodia Announces 'Happiness Curriculum' From Nursery To Class 8 In Delhi Schools

    Manish Sisodia Announces 'Happiness Curriculum' From Nursery To Class 8 In Delhi Schools
    The Delhi Government plans to include meditation, moral values and mental exercises and its core idea is to produce "sarvagun sampann" (versatile) "professionals and human beings who could serve the society with happiness

    Manish Sisodia Announces 'Happiness Curriculum' From Nursery To Class 8 In Delhi Schools

    MS Dhoni's Wife Sakshi Seeks Arms Licence, Alleges Threat To Security

    MS Dhoni's Wife Sakshi Seeks Arms Licence, Alleges Threat To Security
    Earlier, In 2008, The News Of Dhoni Seeking A 9 Mm Pistol, Which Is A Prohibited Bore, Had Made The Headlines.

    MS Dhoni's Wife Sakshi Seeks Arms Licence, Alleges Threat To Security

    PrevNext