Close X
Wednesday, November 27, 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

    To Decide Baby's Name, Maharashtra Couple Organize Voting

    To Decide Baby's Name, Maharashtra Couple Organize Voting
    Friends and relatives of Mithun and Mansi Bang, who belong to Gondiya, participated in voting for a name for their baby, who was born on June 5.

    To Decide Baby's Name, Maharashtra Couple Organize Voting

    Chinese Man Held For Consuming Liquor In Patna

    Chinese Man Held For Consuming Liquor In Patna
    Besides the two Chinese nationals, allegedly found on the wrong side of Bihar's prohibition law, seven of their associates were detained for interrogation but released later.

    Chinese Man Held For Consuming Liquor In Patna

    In Video Amid Selfies, Rescued Python Almost Strangles Forest Officer

    In Video Amid Selfies, Rescued Python Almost Strangles Forest Officer
    It was a narrow escape for Sanjoy Dutta, a Range Officer of Baikunthapur forest in Jalpaiguri, after a python he rescued from a village almost strangled him to death while he was posing for selfies with locals.

    In Video Amid Selfies, Rescued Python Almost Strangles Forest Officer

    Canadian Citizen Among Four Held As Punjab Police Bust Drug Racket

    Canadian Citizen Among Four Held As Punjab Police Bust Drug Racket
    Police claim that previously, the men had sent two consignments (6kg and 14 kg) of opium to Canada.

    Canadian Citizen Among Four Held As Punjab Police Bust Drug Racket

    Gurkirat Singh Kotli Appointed AICC Secretary For Himachal Pradesh

    Gurkirat Singh Kotli Appointed AICC Secretary For Himachal Pradesh
    Congress President Rahul Gandhi on Friday appointed Punjab MLA Gurkirat Singh Kotli as AICC Secretary for Himachal Pradesh, a party release said.

    Gurkirat Singh Kotli Appointed AICC Secretary For Himachal Pradesh

    They Were Served 'Desi Ghee' Against Entitlement: Centre Opposes Relief For 40 Sikh Detainees

    They Were Served 'Desi Ghee' Against Entitlement: Centre Opposes Relief For 40 Sikh Detainees
    More than a year after an Amritsar court directed the Centre and the state government to award a compensation of Rs 4 lakh each to 40 Sikhs confined in a Jodhpur jail, the Union of India has countered the allegations of poor facilities in prison

    They Were Served 'Desi Ghee' Against Entitlement: Centre Opposes Relief For 40 Sikh Detainees