India will lift its countermeasure Tariffs on eight American items.

According to government
sources, India will lift the additional levies it placed on eight US imports in
2019 in retaliation for the United States’ decision to boost tariffs on select
steel and aluminum products. The United States and India agreed to end six
World Trade Organisation (WTO) issues and lift the tariffs on some American
goods during Prime Minister Narendra Modi’s recent state visit.

The United States
increased the import tariff on steel products by 25% in 2018 and on aluminum
products by 10% for reasons of national security. In June of 2019, India
retaliated with tariffs on 28 U.S. goods.

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According to government
sources, India will lift the additional levies it placed on eight US imports in
2019 in retaliation for the United States’ decision to boost tariffs on select
steel and aluminum products. The United States and India agreed to end six
World Trade Organisation (WTO) issues and lift the tariffs on some American
goods during PM Modi’s recent state visit.

The United States
increased the import tariff on steel products by 25% in 2018 and on
aluminum products by 10% for reasons of national security. In June of
2019, India retaliated with tariffs on 28 U.S. goods.

One of the persons
familiar with the situation stated that once India notifies of the
withdrawal of additional levies, the tax rate on these eight US-origin
products will return to the presently imposed most-favored-nation (MFN)
rate.

In 90 days, the tariffs would be lifted. According
to the sources, as part of the agreement India will eliminate the additional
10% duty on chickpeas, 20% duty on lentils, 7% on fresh or dried almonds, 20%
on almonds shelled, 20% on walnuts, 20% on fresh apples, 20% on boric acid, and
20% on Diagnostic Regents.

As a response to the United States’
decision to raise tariffs on some steel and aluminum imports, 28 US
products will have their duties raised in 2019.

Legislators and business leaders in the United
States are pleased with the news that the two countries have reached an
agreement to eliminate these tariffs.

India’s biggest trading partner is the United
States. The value of bilateral goods trade rose to USD 128.8 billion in
2022–23, from USD 119.5 billion the previous year.

India has announced it is removing the retaliatory
duties that all but shut down the Indian market for Washington’s more than
1,400 apple growers,” said Cantwell, a Democrat, and politician. “Now
our farmers will once again have accessibility to this USD 120 million
market,” she added.

Washington State’s apple exports to India ranked
second in the world.

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