As countermeasure, India hikes import duty on 29 US products

New Delhi, June 21: In a retaliatory move against the recent US import duty hikes, India on Thursday raised customs duty on 29 products, including on iron and steel products imported from the US.A Finance Ministry notification said the duty hike would come into effect immediately for 28 products, while for the marine product artemia the increased duty would be effective from August 4.

In March, US President Donald Trump slapped import tariffs of 25 per cent on steel and 10 per cent on aluminium, unfolding the prospect of an all-out global trade war. China retaliated in April imposing tariffs as high as 25 per cent on 128 American products. India has sought an exemption from the US tariffs along the lines the US has allowed to the European Union, Argentina, Australia, Brazil, Canada, Mexico and South Korea. (IANS)