New Delhi [India], June 16 (NT): India has decided to hang up concessions on 30 products originating from the United States.
According to reports of ANI, Customs duty on motorcycles with engine capacity over 800 cc will be hiked up to 50 percent, almonds 20 percent, walnuts 20 percent and apples 25 percent.
India approached this move as reprisal to Washington's stir to slap higher duties on Indian steel and aluminum exports.
India in a letter to the World Trade Organisation (WTO) noted that the suspended concessions are considerably equivalent to the amount of trade affected by the measures slapped 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 in the letter as quoted by ANI.
Worth mention here India expects around USD 238.09 million of duty to be collected through the measure imposed on the US.
On a related note In March, the US imposed 25 percent duty on certain steel products and 10 percent on aluminum products, which will facilitate the US to collect $241million of duty. (NT)