11 July 2018
INDIA: India Cuts Import Duty on China-Origin Goods as US-Sparked Trade War Intensifies
Duty concessions are now in place with regard to the import of 3,142 categories of products from China, Bangladesh, Laos, South Korea, and Sri Lanka. The tariff reductions, which came into effect on 1 July this year, relate to a wide range of items, including precious stones, diamonds and electrical, medical, optical and photographic equipment. The move is in line with the stipulations of the Asia-Pacific Trade Agreement (APTA).
The announcement came days after China cut import duty on 8,500 imports from India and a number of other Asian nations. The timings of both rounds of duty cuts are widely seen as coming in response to the additional import tariffs earlier imposed by the US.