Close X
Thursday, December 12, 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

    North Indian Tourists Want To Create A Haryana In Goa: Minister

    North Indian Tourists Want To Create A Haryana In Goa: Minister
    Goa, a beach and nightlife tourism destination, attracts more than six million tourists every year as against its population of nearly 1.6 million.

    North Indian Tourists Want To Create A Haryana In Goa: Minister

    Angel Investor Mahesh Murthy Arrested For Sexual Harassment

    Angel Investor Mahesh Murthy Arrested For Sexual Harassment
    Renowned as a marketer, advertising guru, and once headed a popular music TV channel in India, Mr Murthy had, in 2000, along with some partners ventured into funding early stage start-ups for various companies across different sectors.

    Angel Investor Mahesh Murthy Arrested For Sexual Harassment

    Kerala Mother Abandons 1-year-old Child Outside Shopping Centre, Elopes With Paramour

    Kerala Mother Abandons 1-year-old Child Outside Shopping Centre, Elopes With Paramour
    Kerala Police has arrested a 23-year-old woman after she abandoned her one-year-old son outside a shopping centre in state capital Thiruvananthapuram and eloped with her paramour. The complaint was filed by her family.

    Kerala Mother Abandons 1-year-old Child Outside Shopping Centre, Elopes With Paramour

    CPM Workers Threatening To Kill My Father For Joining BJP: Daughter’s Viral Facebook Video

    CPM Workers Threatening To Kill My Father For Joining BJP: Daughter’s Viral Facebook Video
    The local unit of the CPM, however, dismissed the threats calling it a mere 'political stunt' and a 'bid to make news.'

    CPM Workers Threatening To Kill My Father For Joining BJP: Daughter’s Viral Facebook Video

    Delhi Govt Notifies Anand Marriage Act

    Delhi Govt Notifies Anand Marriage Act
    The Delhi government on Friday notified 'The Delhi Anand Marriages Rules 2018' under which marriages of Sikhs would be registered in the Capital, instead of the Hindu Marriage Act.

    Delhi Govt Notifies Anand Marriage Act

    When Will Sikhs Get Justice For '84 Genocide: Akali Leader Sukhdev Singh Dhindsa In RS

    When Will Sikhs Get Justice For '84 Genocide: Akali Leader Sukhdev Singh Dhindsa In RS
    The Shiromani Akali Dal on Wednesday demanded justice in the 1984 anti-Sikh riots that erupted following the assassination of then Prime Minister Indira Gandhi, after fresh evidence against a Congress leader surfaced.

    When Will Sikhs Get Justice For '84 Genocide: Akali Leader Sukhdev Singh Dhindsa In RS