India to do away with retaliatory customs duties on eight US products

India plans to do away with additional duties on eight US products, including chickpeas, lentils and apples, that were enforced in 2019 in response to America’s measure to increase tariffs on particula steel and aluminium products.

During the recent state visit of the honourable Prime Minister of India Mr. Narendra Modi to the US, both countries mutually decided to conclude six WTO (World Trade Organisation) disputes and the removal of these retaliatory tariffs on certain US products.

In 2018, the US imposed an import duty of 25% on steel products and 10% on certain aluminium products on grounds of national security. In retaliation, India imposed customs duties on 28 American products in June 2019.

The tariffs would end in 90 days and the duties on these eight US-origin products would return to the currently applied most-favoured-nation (MFN) rate after India notifies the repealing of additional duties.
As part of the agreement, India will be removing additional duty on chickpeas (10%), lentils (20%), almonds fresh or dried (Rs 7 per kg), almonds shelled (Rs 20 per kg), walnuts (20%), apples fresh (20%t), boric acid (20%), and Diagnostic Regents (20%).

The US lawmakers and industry leaders have appreciated the announcement of an agreement with India to end these duties. As per the reports, the US is India’s largest trading partner. In 2022-23, the bilateral goods trade improved to USD 128.8 billion as against USD 119.5 billion in 2021-22.