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India Removes Additional Duties on US Products
India has decided to remove the additional duties imposed on 8 US products, including chickpeas, lentils, and apples. The duties were imposed in 2019 in retaliation to the US decision to raise tariffs on certain steel and aluminium products.
The removal of these duties was announced during the recent visit of Prime Minister Sri Narendra Modi to the US. The two countries also agreed to resolve six other trade disputes at the World Trade Organization (WTO).
The removal of the duties is expected to benefit both countries. It will make US products more affordable for Indian consumers and businesses, and it will also boost exports from the US to India.
US Products on Which India has Removed the Additional Duties
- Chickpeas
- Lentils
- Almonds (fresh or dried)
- Walnuts
- Apples
- Medical diagnostic reagents
- Boric acid
The duties were originally imposed on 28 US products, but India has decided to remove them on only 8 of these products. The remaining 20 products are still subject to the additional duties.
The removal of the duties is a positive step for trade between India and the US. It is expected to boost economic activity and create jobs in both countries.
Continue Here To Read More: https://indianexpress.com/article/business/economy/india-removes-additional-duties-on-certain-us-products-8928954/
