29 Apr 2024

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Import duty

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China lifts import duty on soybean, other Indian goods from July 1

NEW DELHI:  The ongoing trade war between China and the United States might improve India’s trade balance with its Himalayan neighbour, as Chinese Cabinet on Tuesday announced a lift of import tariffs on soybean and a few other goods from India and four other Asian nations from July 1. The other four nations are South Korea, Bangladesh, Laos and Sri Lanka. The import tariff on soybean was three per cent earlier. The Chinese cabinet said that it will lift duty on related products such as soymeal, soybean cake, rapeseed and fish meal for the Asian countries.



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