The trade war situation is worsening globally. Whereas China is constantly threatening to levy more on US product after raising the duty on many products of US, India has decided to increase the customs duty on many products coming from the US on the lines of the European Union.
In response to American action, India has increased customs duty on many products coming from the US. These products include Bengali gram, masoor dal and artemia. The finance ministry said in a notification that these charges would be effective from August 4.
The duty on peas and Bengali grams has been raised to 60% and lentil pulses to 30%. Apart from this, 7.5% on boric acid and 10% for domestic Regent has been levied. The fee has been increased to 15% on Artemia.
Published On : 22 Jun 2018