Close X
Sunday, November 24, 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

    Behind Bars For 8 Months, Honeypreet Applies For Bail Says No Evidence Against Her

    Jailed Dera Sacha Sauda chief Gurmeet Ram Rahim's adopted daughter Honeypreet Insan has moved an application for regular bail in the Panchkula court. She sought the bail on the grounds that no evidence was found against her by the Haryana Police.

    Behind Bars For 8 Months, Honeypreet Applies For Bail Says No Evidence Against Her

    India Became Net Power Exporter In Last Four Years

    In a media briefing here on the government's achievments in the four years of NDA rule at the Centre, he also referred to the issue of stressed projects, saying efforts are underway to revive some of the non-performing assets (NPAs) in the sector. 

    India Became Net Power Exporter In Last Four Years

    WATCH: Kerala Father Kisses Newborn Goodbye Before Abandoning The Infant At Church

    WATCH: Kerala Father Kisses Newborn Goodbye Before Abandoning The Infant At Church
    Bitto and his wife Prabitha, 28, from Thrissur district, were arrested this morning for abandoning their newborn child at St George Forane Church in Edappally last evening, they said.

    WATCH: Kerala Father Kisses Newborn Goodbye Before Abandoning The Infant At Church

    3 Arrested For Murdering Father, Stepmother And Two Stepbrothers

    3 Arrested For Murdering Father, Stepmother And Two Stepbrothers
    The three men shot their father Ramvilas Rao, his second wife Sunita Devi and two sons before slitting their throats with a sharp weapon around midnight.

    3 Arrested For Murdering Father, Stepmother And Two Stepbrothers

    Congress Municipal Councillor Gurdeep Pehalwan Shot Dead In Amritsar

    Congress Municipal Councillor Gurdeep Pehalwan Shot Dead In Amritsar
    A municipal councillor from the Congress was shot dead by two masked men on a motorcycle in Amritsar this evening, a senior police official said.

    Congress Municipal Councillor Gurdeep Pehalwan Shot Dead In Amritsar

    Shillong Unrest: Minorities Commission To Probe Clashes Between Sikhs, Khasis, Situation Tense

    Shillong Unrest: Minorities Commission To Probe Clashes Between Sikhs, Khasis, Situation Tense
    The authorities on Monday extended curfew in the Meghalaya capital as violence continued in tension-hit areas the previous night with mobs indulging in stone-pelting on security forces for the last four days.

    Shillong Unrest: Minorities Commission To Probe Clashes Between Sikhs, Khasis, Situation Tense