Modi showed India’s might to US – India answered to US import duty on steel and others with Import duty on US Agri products

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Export Import - India
Export Import - India

President Trump raised the flag PM Modi replied a professional strong polite reply on import duty sector.

India has hiked customs duty on several goods, including Bengal gram, lentils and artemia, imported from the United States with effective from 4th Aug 2018, the Finance Ministry said in a notification.

Chickpeas and Bengal gram duty has been increased to 60 per cent 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.

Duty hike by the US on certain steel and aluminium products which had tariff implication of USD 241 million on India, which India has countered with an equivalent tariff implications for the US.

On March 9, US President Donald Trump imposed heavy tariffs on imported steel and aluminum 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 aluminum 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 aluminum.

 

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