India hikes customs duty on several goods imported from the US

India has hit back at US President Donald Trump’s protectionist policies, hiking customs duty on 29 products, including farm products, steel, and iron, which are imported from America. This retaliatory action is in response to the US move to raise tariffs on steel and aluminum products earlier this year, which had a tariff impact of $241 million on India. download our android app

  • India has hiked customs duty on several goods imported from the US.
  • The import duty on chickpeas and Bengal gram have been increased to 60%.
  • 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 move was in retaliation for the duty hike by the US on certain steel and aluminum products which had tariff implication of 241 million US dollars on India.
  • The duty on boric acid has been hiked to 17.50 percent.
  • Import duty on diagnostic reagents has been doubled to 20 percent, while binders for foundry molds has been hiked to 17.5 percent.

The import duty hike would be effective from August 4. The move was in retaliation for the duty hike by the US on certain steel and aluminum products which had tariff implication of 241 million US dollars on India. The duty hike by India would have equivalent tariff implication for the US.download our android app

reference…