Exim Matters

President Donald Trump surprised India earlier this month by imposing 25 per cent tariffs on Indian goods entering the US, in addition to the 25 per cent reciprocal tariffs

The exporters of steel will be affected, but they have the financial strength to manage the setback. Trump has so far exempted tariffs on pharmaceuticals, electronics, and petroleum products

The Nato decision is a response to fears of security threats from Russia, which is enhancing its war capabilities and apprehensions that the US cannot be relied upon to defend Europe

The latest order gives a table listing 144 steel items with their IS and the inputs and their IS for making 124 of those items

In March this year, soon after the US raised its duties on steel and aluminium, China and Canada proposed retaliatory tariffs against imports from the US

China has 44 per cent of the known rare earth deposits that contain such critical minerals

Generally, political and economic measures do not bring about significant changes in policy or behaviour unless they sting the other party enough

In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion

Section 75(1) of the Customs Act, 1962, allows drawback of the Customs and Central Excise paid on the inputs used in the manufacture or processing of the export products

The CBIC Customs Manual 2025 explains in simpler words the role of the Customs, various legal provisions and gives the gist of relevant departmental instructions till February 1

The Rodtep scheme seeks to refund the duties/taxes/levies, at the Central, State and local level, borne on the exported product, including prior stage cumulative indirect taxes on goods

Section 58 deals with licensing private bonded warehouses where imported goods belonging to the licensee may be deposited without payment of any Customs duties

With Trump's rather isolationist policies, Europe may find it necessary to divert more resources for building better military capabilities

Most of the EOUs are unhappy with the way the CBIC has tried to push through the new processes without adequate preparation

Kamala Harris has so far not talked much on trade matters, except criticising Trump's plans to hike tariffs on imports as inflationary

Our government is best placed to assess national security considerations and determine the extent of access we should give to Chinese goods and investments

In an era when global economic growth is likely to be buffeted by geopolitical tensions and protectionism, growing India's exports of goods and services will be a stiffer challenge than before

Since the Houthi attacks on commercial vessels started in the Red Sea towards the end of last year, major shipping lines have been re-routing their vessels around Africa

The 'SAFE Framework', launched in 2005, rests on three pillars viz. Customs-to-Customs network arrangements

EVs attract a BCD of 100 per cent for those priced above $40,000 per unit and 70 per cent BCD for those priced at $40,000 or less