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1-min read

India Once Again Delays Levying Retaliatory Tariff on US Goods to May 2

Angered by Washington's refusal to exempt it from new steel and aluminium tariffs, India decided in June last year to raise the import tax from August 4 on some US products including almonds, walnuts and apples.

Reuters

Updated:April 1, 2019, 9:36 AM IST
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India Once Again Delays Levying Retaliatory Tariff on US Goods to May 2
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Mumbai: India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 2, according to a government order.

The new tariff structure was to come into force from April 1.

Angered by Washington's refusal to exempt it from new steel and aluminium tariffs, New Delhi decided in June last year to raise the import tax from August 4 on some U.S. products including almonds, walnuts and apples.

But since then, New Delhi has repeatedly delayed the implementation of the new tariff.​

Trade friction between India and the United States has escalated after US President Donald Trump announced plans earlier this month to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.

The timing of the US decision to revoke the trade privileges is awkward for India as Prime Minister Narendra Modi's government is heading into a general election from April 11 to May 19, with results due out on May 23.

India and the United States have developed close political and security ties. But bilateral trade, which stood at $126 billion in 2017, is widely seen to be performing at nearly a quarter of its potential.
| Edited by: Ahona Sengupta
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