India increase in tariffs and surcharges

India increased tariffs and fees

As part of Budget 2018, India has increased applied tariffs (within the margin allowed by WTO bound tariffs). It has also introduced a 10% "Social Welfare Surcharge" on the tariff on a long list of imported products. Among the products of interest to Spain most affected this year is olive oil. The tariff for virgin oil rises from 12.5% ​​to 30% and refined olive oil from 20% to 35%. They are also raised for musts (from 30 to 50%), orange juices (30 to 35%), some cosmetic products (10 to 20%), footwear (10 to 20%) and automotive engine parts and components (10 at 15%) or complete engines (20 to 25%) .