Amidst Trump’s tariff war, India slashes peak tariffs from 150% to 70%, to ‘correct bad optics’
While India’s peak custom duty rate is now 70%, the import duties on the top 30 items exported by the U.S. to India — led by crude petroleum, coking coal, aeroplanes, and liquefied natural gas — are minimal, in the range of zero to 7.5%, the Central Board of Indirect Taxes and Customs chairman Sanjay…