India Strikes Back With Higher Import Duties On US Farm, Steel Products

India increased import duties on many of farm products, steel and iron imported from the United States, a government notice said, joining the European Union and China in retaliatory action against President Donald Trump’s tariff hikes on steel and aluminum.

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

  1. India increased duties on many of farm products, steel and iron imported from the US.
  2. It also gave a list of products to the WTO that it said could incur higher tariffs.
  3. The new tariffs were intended to show displeasure at the U.S. action.
  4. Some of the new Indian rates will take effect immediately while the others would go into force on Aug. 4.

Amid trade tensions between the United States and some major economies there is now a threat that global growth may derail.

China had warned on thursday that the interests of U.S. workers and farmers will be suffered by Washington’s move to impose higher tariffs on some imported products and items.

In the tariff rates issued late on Wednesday, India’s commerce ministry specified some varieties of apples, almonds, chickpeas, lentils, walnuts and artemia that would carry higher import taxes. Most of these items are purchased from the United States.

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.

It also gave a list of products to the WTO that it said could incur higher tariffs.

An official from the steel ministry said at the time that the new tariffs were committed 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.

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