India has agreed to remove retaliatory customs duties on eight US products, including chickpeas, lentils, almonds, walnuts, and apples. These duties were imposed in 2019 as a response to the US decision to increase duties on certain steel and aluminium products. The removal of these duties will take effect in 90 days.
The eight products that will have their duties removed are chickpeas, lentils, almonds (fresh or dried), almonds (shelled), walnuts, apples (fresh), boric acid, and diagnostic reagents.
The removal of these duties is expected to have a positive impact on Indian and US businesses. Indian exporters will be able to sell their products to the US at a reduced price. This, in turn, could potentially boost their sales in the US market.
On the other hand, US businesses will also benefit from the lower prices. It may help them make their products more competitive in the Indian market. Overall, this removal of duties is likely to create mutually advantageous conditions for both countries’ businesses.
