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Govt removes additional duties on US products before Joe Biden visits India

Before US Vice President Joe Biden arrived in New Delhi to attend G20 Summit, chickpeas, lentils, and apples were exempt from higher tariffs in India. After the US raised steel and aluminum import duties in June 2019, India slapped taxes on 28 US goods.

The Finance Ministry eliminated tariffs on chickpeas, lentils (masur), apples, walnuts in shells, fresh or dried almonds, and shelled almonds.

The decision was reached ahead of US Vice President Joe Biden’s September 9-10 G20 Summit visit to India.

In June 2023, Prime Minister Narendra Modi and the Biden administration agreed to resolve six bilateral trade problems at the WTO during his State visit. They also dropped US goods retaliation tariffs. India would remove tariffs on chickpeas (10%), lentils (20%), fresh or dry almonds (Rs 7 per kg), shelled almonds (Rs 20 per kg), walnuts (20%), and apples (20%).

In July, Anupriya Patel, a minister of state for commerce and industry, informed the Rajya Sabha that the government will eliminate retaliatory customs taxes on apples, chickpeas, lentils, fresh or dried almonds in their shells, walnuts, and boric acid.

She said elimination of retaliatory tariffs or US import price reductions did not hurt India.  India’s main commercial partner is the US. Bilateral product trade rose to USD 128.8 billion in 2022-2023 from USD 119.5 billion.

Conclusion:-

Before US Vice President Joe Biden’s visit to India for the G20 Summit, Indian goods like chickpeas, lentils, and apples were exempt from higher tariffs. However, after the US increased steel and aluminum import duties in 2019, India imposed taxes on 28 US goods. The Finance Ministry eliminated tariffs on these items, a decision made ahead of Biden’s G20 Summit visit. In June 2023, India and the Biden administration agreed to resolve six bilateral trade problems at the WTO and drop US goods retaliation tariffs. In July, Anupriya Patel announced the elimination of retaliatory customs taxes on these items. India’s main commercial partner is the US, and bilateral product trade increased to USD 128.8 billion in 2022-2023.

Newsdesk

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