Friday, Jan 21, 2022 | Last Update : 10:07 PM IST

  Business   In Other News  16 Jun 2018  India proposes retaliatory tariffs on 30 products from United States

India proposes retaliatory tariffs on 30 products from United States

ANI
Published : Jun 16, 2018, 3:05 pm IST
Updated : Jun 16, 2018, 3:05 pm IST

India expects around USD 238.09 million of duty to be collected through the measure imposed on the US.

Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50 per cent, almonds 20 per cent, walnuts 20 per cent and apples 25 per cent.
 Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50 per cent, almonds 20 per cent, walnuts 20 per cent and apples 25 per cent.

New Delhi: India has decided to suspend concessions on 30 products originating from the United States. Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50 per cent, almonds 20 per cent, walnuts 20 per cent and apples 25 per cent.

This move came as retaliation to Washington's move to impose higher duties on Indian steel and aluminium exports. India in a letter to the World Trade Organisation (WTO) stated that the suspended concessions are substantially equivalent to the amount of trade affected by the measures imposed by the United States.

 

"This notification is made in connection with safeguard measures imposed by the United States of America on imports of certain aluminium and steel articles," India said.

India expects around USD 238.09 million of duty to be collected through the measure imposed on the US. In March, the US imposed 25 per cent duty on certain steel products and 10 percent on aluminium products, which will help the US collect USD 241million of duty.

Tags: concessions, customs duty, steel exports, world trade organisation, aluminium products
Location: India, Delhi, New Delhi