New Delhi, Feb. 1 -- In response to the US tariffs, Union Finance Minister Nirmala Sitharaman on Sunday proposed reducing the tariff rate on all dutiable goods imported for personal use from 20 per cent to 10 per cent.

In line with the government's aim to promote exports and lift the seafood industry hit by US tariffs, FM Sitharaman propose to increase the limit for duty-free imports of specified inputs used for processing seafood for export from the current one per cent to three per cent of the FOB value of the previous year's export turnover.

Union FM Nirmala Sitharaman said, "I propose to increase the limit for duty-free imports of specified inputs used for processing sea foods for export from the current one per cent to three per ce...