import tariffs
Coverage of import tariffs in the Nexus archive.
- Bolivia Cuts Import Tariffs to Soften the Blow of a Weaker Currency
Bolivia will reduce import tariffs by five percentage points across all tariff schedules starting July 6, 2023, under Supreme Decree 5646, which remains in effect until the end of 2027. The government stated this measure aims to protect consumers amid challenges posed by a weaker currency.
- Gold smugglers ‘make a killing’ in India as grey market outshines hefty tariffs
India's increased gold import tariffs to 15% have led to a surge in smuggling, with estimates exceeding 100 tonnes annually as grey market margins allow smugglers to undercut banks and refiners. Industry officials and bullion dealers report this resurgence, highlighting India's position as the world's second-largest gold market.
- Ministers in talks over shelving carbon tax on fertiliser to curb food inflation
Ministers are considering suspending a carbon tax on fertilisers, set to begin early next year, as part of a package to reduce food inflation. Measures also include pausing import tariffs on foods like bread, biscuits, and bananas.
- India's gold-based lenders see business boost from higher import tariffs
India's gold-based lenders are experiencing a business boost due to higher import tariffs on gold. The tariffs have likely reduced gold imports, increasing demand for domestic gold and gold loans.