India would get about $217 million additional revenue from such imports. The government had on June 21, 2018 decided to impose these duties in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products. America had in March last year imposed 25% tariff on steel and a 10% import duty on aluminium products. As India is one of the major exporter of these items to the US, the US decision has revenue implication of about $240 million on Indian steel and aluminium products. Last year India announced higher tariffs on a clutch of items in retaliation against the US by imposing higher levies on some products shipped from here, mirroring steps taken by China and the EU.

Source: dna June 14, 2019 23:48 UTC