WTO compliant trade tariffs meant for national development: FM Sitharaman

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WTO compliant trade tariffs meant for national development: FM Sitharaman - Business Standard

Quick Summary:

The trade tariffs running up to 100 per cent, consistent with the World Trade Organisation norms, are levied for national development and the growth of domestic industry, said Union Finance Minister Nirmala Sitharaman.

Reacting to a query in defence of 100 per cent trade tariffs on some US imports, the finance minister said that tariffs are legitimate instruments.

So that is how it's been happening and it is consistent as I said with the WTO," she said during a post-budget interaction in the port city on Thursday.