International Trade Update No. 16

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USA has imposed Section 301 Tariffs on 60 countries over forced labour imports. The Update in this regard covers country-wise tariffs, exclusions for certain products, and India-specific findings, etc.

It also talks about the Textile Mechanism, which allows entry of certain volume of specific textiles and apparel from Bangladesh, Cambodia, Indonesia, and Malaysia, without the Section 301 tariffs.

According to the LKS International Trade Team, Indian exporters must urgently examine the HTS classifications of their goods against the exempted product categories which include certain agricultural goods, critical minerals, and various chemical pertaining to the pharmaceutical sector.