Customs duty cuts in certain areas to benefit American exports: GTRI

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Customs duty cuts in certain areas to benefit American exports: GTRI - Business Standard

Quick Summary:

The Global Trade Research Initiative (GTRI) said that despite the repeated criticism of India as the biggest tariff abuser and tariff king by the Trump-administration, the country's Budget has introduced significant tariff reductions on multiple products, many of which benefit the US exports.

"With key tariff cuts on technology, automobiles, industrial inputs, and waste imports, India appears to be taking steps toward facilitating trade even as the global trade environment remains tense.

The customs duty reduction announced in the Budget on products such as motorcycles and synthetic flavouring essences would benefit American exports, economic think tank GTRI said on Sunday.