Business
22:55, 16-Jun-2018
India proposes 50 pct customs duty on 30 US products
["china"]
Share
Copied
India submitted a revised list to the WTO to propose a 50 percent customs duty raise on 30 US products, including motor cycles, certain iron and steel goods, boric acid and lentils, The Times of India reported late Saturday.
India’s tariff raise proposal was a retaliation on a duties hike made by the US on certain steel and aluminum products that would have implications of about 241 million US dollars on India, the report said.
"The US would be collecting 241 million US dollars worth of duties by hiking tariffs on certain steel and aluminium items from India, we also proposed to withdraw concessions of a similar amount from these 30 products imported by India from the US," the report quoted an anonymous source.
The latest list is a revised version of India’s proposal in May to raise duties by up to 100 percent on 20 products from the US, according to the report.
On March 9, US President Donald Trump imposed heavy tariffs on imported steel and aluminium items, a move that has sparked strong objections from many countries, including its allies.