Hit back at Trump! India hikes import duties on agricultural products
Hit back at Trump! India hikes import duties on Agricultural Products Global trade war deepened as India hikes customs duty on several goods, including Bengal gram, lentils and artemia that are imported from the US. The import duty hike would be effective from August 4, the Finance ministry. The retaliation comes after the US imposed higher levies on some products shipped from the South Asian nation, echoing steps taken by China, the European Union and other trading partners. The import duty on chickpeas and bengal gram, or chana, has been increased to 70%. The duty on boric acid and binders for foundry moulds has been hiked to 7.5 per cent, while that on domestic reagent was raised to 10 per cent. Duty on artemia, a kind of shrimp, has been hiked to 15 per cent. 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 are among the other items. 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." -PTC News
