India Hits U.S. With Tariff Hike On Farm, Steel Products
India has raised duties on a range of items largely imported from the United States.
The tariff hike is being seen as retaliation to the Trump administration’s decision to impose tariffs of 25 percent on steel and 10 percent on aluminium imports.
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An Indian Finance Ministry notification, on Thursday, listed new tariffs on a range of 29 farm, chemical, steel and other products.
Some of the new rates took immediate effect, while others are due to come into force on Aug. 4.
A report says India’s retaliatory move follows similar steps taken by the EU, Canada, and China.
According to the Indian Finance Ministry, the import duty on chickpeas and Bengal gram have been raised to 60 percent and on walnuts in shells to over 100 percent.
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Other items, on which duties have been raised, include boric acid, phosphoric acid, diagnostic reagents and flat-rolled iron and steel products.
The duty on artemia, a kind of shrimp imported from the U.S., has also been raised along with tariffs on SIM sockets and other mechanical items used for the manufacture of mobile phones.
