India hits back at US, hikes import duty on agri, steel products

New Delhi, June 21 : India has increased customs duty on 29 products, including pulses and iron and steel products, imported from the US as a retaliatory action against the tariff hike by Washington.The duty hike would come into effect immediately for 28 products, while for artemia, a kind of shrimp, the rate hike would be effective from August 4, the Finance Ministry said in a notification.With the United States adopting protectionist policies and hiking import duties, a trade war-like situation has emerged. The European Union has decided to levy higher import duties on a variety of US products and a similar action is being contemplated by China.
As per the Finance Ministry notification, the import duty on chickpeas, Bengal gram (chana) and masur dal has been increased to 70 per cent from 30 per cent earlier, while that on lentils has been hiked to 40 per cent from 30 per cent. Shelled almonds imported from the US will now attract import duty at Rs 120/kg as against Rs 100/kg earlier. Almonds in shell will attract import duty at the rate of Rs 42/kg as against Rs 35/kg. Import duty on walnut in shell will attract customs duty at the rate of 120 per cent as against 30 per cent earlier. While apples will attract import duty of 75 per cent as against 50 per cent earlier. The duty on boric acid has been hiked to 17.50 per cent, while the same on phosphoric acid has been raised to 20 per cent from 10 per cent each earlier.Import duty on diagnostic reagents has been doubled to 20 per cent, while binders for foundry moulds has been hiked to 17.5 per cent.Flat rolled products on iron has been raised to 27.50 per cent from 15 per cent earlier, while certain flat rolled products on stainless steel would now attract 22.50 per cent duty as against 15 per cent earlier.