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In tit for tat, India hikes customs duty on US goods


NEW DELHI: The government on Friday in any case made up our minds to impose additional customs accountability on 29 products, including almonds, walnut and pulses, imported from the United States - a transfer which got here nearly a year after India had made up our minds to retaliate in opposition to Washington's transfer to boost import duties on some steel and aluminium products.

The Union finance ministry will soon issue a notification to this effect. The increase in import duties might be effective from June 16. India's transfer to impose retaliatory price lists comes 10 days prior to international minister S Jaishankar is to fulfill US secretary of state Mike Pompeo, the primary high-level interplay after the brand new Modi government took over. Official sources in Delhi stated that the government had informed the United States authorities about the determination to boost import duties.


US preferential business status: India says will continue to work against robust bilateral ties

The government stated on Saturday it's going to continue to seek to construct robust financial ties with the United States despite a call through President Donald Trump to end preferential business treatment for India from June 5. The commerce ministry stated in any relationship, in particular in the space of economic ties, there are ongoing problems which get resolved mutually once in a while.


The government had held off on imposing retaliatory price lists in the hope that the 2 nations would negotiate a answer. The business dispute was mentioned in detail in conferences closing week between Jaishankar and his ministerial colleagues, Piyush Goyal and Nirmala Sitharaman.

The expectation is that between Jaishankar's meeting with Pompeo and PM Modi's meeting with Trump at the sidelines of G-20 summit in Osaka, India and US would have begun talks to resolve the situation. India has been threatening to impose retaliatory tariff of $235 million on 29 US products to counter President Trump's determination to boost import accountability on some steel & aluminium items.

Earlier this month, the White House had announced it was terminating India's particular marketplace get entry to to the United States under Generalised System of Preferences programme from June 5. The transfer had dashed hopes of a answer of exceptional business problems between the 2 nations.

Trump has complained again and again that India is a "very very high tariff nation," highlighting New Delhi's taxes in opposition to Harley Davidson motorcycles. India and US have sparred on business problems and New Delhi has dragged US to World Trade Organisation over the United States duties on steel and aluminium.



Trade mavens lauded the government's transfer. "India had to respond to the US steps. There were hopes there would be a resolution but it did not happen. It was high time that India responded to protect its interest," stated Biswajit Dhar, professor at Jawaharlal Nehru University. He shrugged off apprehensions that the decision will make products such as almonds and apples dearer for the shoppers here.


US determination to withdraw GSP advantages violates international business rules: Experts

The US' determination to withdraw incentives for Indian exporters violates international business rules as it discriminates among growing nations, business mavens say. The US has made up our minds to roll again export incentives provided under generalised machine of preferences (GSP) from June 5.


Some other products on which duties might be hiked come with some nuts, iron and steel products, apples, pears, flat rolled products of chrome steel, other alloy steel, tube and pipe fittings, and screws, bolts and rivets.


Read this report in Bengali


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