The revised rate will be applicable to critical components used in mobile phone assembly, including battery covers, main lenses, back covers, and other mechanical items made of plastic and metal.
"If India is charging us too, so what I want to have is a -- call it retribution. You could call it whatever you want. If they are charging us, we charge them," Trump said in response to a question.
With the reduction, the effective duty on refined edible oils stands at 13.7 per cent, including cess on social welfare. The effective duty on all major crude edible oils is 5.5 per cent.
The drugs or medicines generally attract basic customs duty of 10 per cent.
Basic customs duty is already nil on crude palm oil (CPO) and now the Central Board of Indirect Taxes and Customs (CBIC) through a notification has cut the agri infra development cess to 5 per cent from 7.5 per cent, effective from February 13.
The Ministry of Finance, in a notification issued on late Tuesday night, removed the duty on import of pharmaceutical ingredients used to manufacture of the drug.
A 5 per cent customs duty will be reimposed on the import of open cell for TVs from October 1 following the end of one year exemption period. The government had last year exempted customs duty on open cell, a kep component of TV, for a year till September 30.
Finance Minister Nirmala Sitharaman who will be presenting Budget 2020 on February 1 may announce a raise in import duties on more than 50 items.
In a late night notification on Tuesday, the Ministry of Finance said "open cell, (15.6 inch and above), for use in the manufacture of Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panel", would attract nil duty.
This is the second round of import duty hike after the government on September 26 increased import duty on 19 items.
The enhanced duty rates, which will make these imported goods expensive, will come into effect from midnight of September 26-27.
The move was in retaliation to the duty hike by the US on certain steel and aluminium products which had tariff implication of USD 241 million on India. The duty hike by India would have an equivalent tariff implications for the US.
Imported motorcycles from high-end brands, including Harley Davidson and Triumph, are set to get cheaper in India as the government has slashed customs duty to 50 per cent.
Trump, during a discussion with members of the Congress over steel industry, also threatened to increase the tariff on import of Indian motorcycles to the US.
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