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In Tit-for-Tat, India hikes import duties on 29 goods including American apples

Continuing with the ongoing tariff war between US and India, India hit back on US by raising import duties on 29 products including agricultural products like American Apples and Industrial products like iron and steel. The higher tariff would come into effect from August 4.

On Wednesday, Indian Government notified that it would increase the import duties on American apples, walnuts, chickpeas, lentils and industrial inputs like iron and steel products which will come into action after august 4 thus leaving space for the further discussion between US and India for any changes.

The government had earlier notified the World Trade Organisation that it would impose high tariff amounting to $240 million in response to the US action on the steel and aluminium products.

A finance ministry official said in this matter that, “The Commerce Minister had said that he will be having more talks with the US on the trade issues, and so later date (for the implementation to the tariffs) is to give time so that they can amended following the talks. But the notification also shows that we are serious about the issues”.

There will 100% duty on American almonds and Walnuts while 60% tariff on chickpeas and Bengal gram on 60%, 50% tariff on apples. With the decision, India said that it expects around $238.09 million of duty to be collected on the Indian front.

India action for the higher tariff emerges as the result of US move to impose 25% tariff on the steel products and 10% tariff on the aluminium imports thus causing tension among its trading partners and members of the WTO.

Not only on India, US has impose high tariff on China worth of $50 billion and then on another priced $200 billion and harshly continuing with another at $200 million. Although, China have said that they will hit back on US.

 

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