Tariff-ied? No more! Exporters look to encash duty advantage
Tea growers too are celebrating duty-free access, more so because of the tariff advantage compared to competitors from Sri Lanka, Kenya and China. Sri Lanka was hit due to their ‘tea-for-oil’ barter deal with Iran, resulting in a 25% tariff penalty. Kenya, which enjoyed duty-free access under AGOA, now has to contend with 10% baseline…