Close X
Monday, December 2, 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

    India Does Not Believe In Dirty Bombs Unlike Some Neighbours: Nirmala Sitharaman

    India Does Not Believe In Dirty Bombs Unlike Some Neighbours: Nirmala Sitharaman
    Nirmala Sitharaman also said infiltration bids from across the border with Pakistan have not come down.

    India Does Not Believe In Dirty Bombs Unlike Some Neighbours: Nirmala Sitharaman

    Indian-Origin Woman, Feared To Have Gone Missing, Returns

    Indian-Origin Woman, Feared To Have Gone Missing, Returns
    Devikiamma Pillai, a South African national of Indian origin, came to India on vacation and checked in at a guest house in south Mumbai's Colaba area on February 21.

    Indian-Origin Woman, Feared To Have Gone Missing, Returns

    Kejriwal Apology To Bikram Majithia: Punjab AAP Chief Bhagwant Mann, Co-President Aman Arora Quit

    Kejriwal Apology To Bikram Majithia: Punjab AAP Chief Bhagwant Mann, Co-President Aman Arora Quit
      Mann, who announced his resignation on Twitter, said his fight against the drug mafia would however continue.

    Kejriwal Apology To Bikram Majithia: Punjab AAP Chief Bhagwant Mann, Co-President Aman Arora Quit

    Arvind Kejriwal Has 'Murdered' AAP In Punjab: Navjot Sidhu

    Arvind Kejriwal Has 'Murdered' AAP In Punjab: Navjot Sidhu
    Punjab Congress leader Navjot Singh Sidhu on Friday said AAP convener Arvind Kejriwal had "murdered" his party in the state by apologising to SAD leader Bikram Singh Majithia.

    Arvind Kejriwal Has 'Murdered' AAP In Punjab: Navjot Sidhu

    Kejriwal Is A Fraudster, 'Traitor', He 'Betrayed' Punjabis: Lok Insaf Party Breaks Alliance With AAP

    Kejriwal Is A Fraudster, 'Traitor', He 'Betrayed' Punjabis: Lok Insaf Party Breaks Alliance With AAP
    Kejriwal tendered the apology to former minister Bikram Singh Majithia yesterday for levelling charges of involvement in drugs trade against the former minister.

    Kejriwal Is A Fraudster, 'Traitor', He 'Betrayed' Punjabis: Lok Insaf Party Breaks Alliance With AAP

    'It's A Betrayal': Open Rebellion In AAP After Arvind Kejriwal Apologises To Majithia

    'It's A Betrayal': Open Rebellion In AAP After Arvind Kejriwal Apologises To Majithia
    The Aam Aadmi Party (AAP) unit of Punjab on Friday accused said party convener Arvind Kejriwal of becoming “weak”, a day after the latter apologised for his drug trade allegations against former minister Bikram Singh Majithia.

    'It's A Betrayal': Open Rebellion In AAP After Arvind Kejriwal Apologises To Majithia