INDIA And US / India removed additional tax from these 12 American products – business relations will get stronger

INDIA And US: India has removed additional tax on some American products like gram, pulses and apples. India has taken this step ahead of US President Joe Biden's three-day visit to the country. These additional tariffs were imposed in response to the US decision in 2019 to increase tariffs on certain steel and aluminum products. India had imposed this duty on 28 American products in 2019. The decision to remove these duties on US products was taken through a notification of the Ministry of Finance on 5 September. It said that the duty has been removed on products like gram, lentils, apples, fresh or dried almonds.

Steps taken before Biden's visit

The move was taken ahead of Biden's visit to India to attend the G20 summit on September 9-10. Before this, he will also hold bilateral talks with Prime Minister Narendra Modi on September 8. During Modi's visit to the US in June, the two countries had decided to end six WTO (World Trade Organization) disputes and remove retaliatory duties on some US products.

Tax removed from these products

As part of the agreement, India has agreed to export gram (10 per cent), pulses (20 per cent), fresh or dried almonds (Rs 7 per kg), shelled almonds (Rs 20 per kg), walnuts (20 per cent) and fresh apples. (20 percent) additional fee removed.