India expects to collect US dollars 238.09 million of duty through the measure imposed on the US.
Highlights
- India has proposed retaliatory tariffs on 30 US products
- Customs duty on motorcycles, almonds, walnuts and apples raised
- India expects to collect 238 million dollars through the measure
India has decided to suspend concessions on 30 products originating from the United States.
Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50 per cent, almonds 20 per cent, walnuts 20 per cent and apples 25 per cent.
This move came as retaliation to Washington's move to impose higher duties on Indian steel and aluminium exports.
India in a letter to the World Trade Organisation (WTO) stated that the suspended concessions are substantially equivalent to the amount of trade affected by the measures imposed by the United States.
"This notification is made in connection with safeguard measures imposed by the United States of America on imports of certain aluminium and steel articles," India said.
India expects around US dollars 238.09 million of duty to be collected through the measure imposed on the US.
In March, the US imposed 25 percent duty on certain steel products and 10 percent on aluminium products, which will help the US collect 241 million dollars of duty.