Published On: Sat, Jun 15th, 2019

India hikes tariff on 28 products to United States

India announced Saturday higher tariffs on 28 United States products including walnut, pulses and almond as a reciprocation to the same step by Washington.

American exporters of the listed products will be hurt as the products will become costlier in India.

The previous list prepared by the Central Board of Indirect taxes and Customs (CBIC) included 29 goods but later artemia was removed.

With the increased tariffs India would get additional revenue of about USD 217 million from the imports.

US imposed 25 percent and 10 percent tariff on steel and aluminium products respectively in March 2018. Earlier the products were not levied any tax.

India is one of the major exporters of the two products to the US.

Since the move by US about eight times India postponed the tariff deadline imposition hoping a solution would come up through a negotiation.

India, tariff, United States

However, the negotiations came to a halt after a decision of US to withdraw export incentives to Indian exporters under Generalized System of Preferences (GSP) programme.

Walnut import duty has been raised by 120 percent. Earlier it was 30 percent. Similarly duties on Bengal gram, chickpeas and masur dal too have been hiked from 30 percent to 70 percent.

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About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade. He can be contacted at knowledgeherald@gmail.com

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