Business

India Slams US With Higher Import Duties On Iron and Farm Products

ANANYA BHATNAGAR | 0
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| June 21 , 2018 , 17:21 IST

India on Wednesday, increased duties on a range of farm products, steel, and iron imported from the United States.

In the new tariff rates issued by the Ministry of Commerce, it named some varieties of apples, almonds, chickpeas, lentils, walnuts and artemia that would carry higher import taxes. Most of these are purchased from the United States.

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The retaliatory move came in a day after the European Union’s decision to charge higher import duties on a range of US products.

According to Reuters, India also raised duties on some grades of iron and steel products. Last month, India launched a complaint at the World Trade Organisation against the United States over the steel and aluminum duties after it failed to win an exemption.

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According to media reports, an official from the steel ministry said at the time that the new tariffs were intended to show displeasure at the U.S. action. Some of the new Indian rates will take effect immediately while the others would go into force on Aug. 4. Rising trade tensions between the United States and some major economies have threatened to derail global growth.