The Indian government has once again deferred the deadline to impose retaliatory import duties on 29 US products, including almond, walnut, and pulses. So, now instead of May 2, 2019 the deadline to impose tariffs is on May 16, 2019.
The deadlines have been extending since June 2018, when India decided to impose these duties in retaliation to the Trump Administration’s decision to impose high customs duties on certain aluminium and steel products.
Further extension of the deadline comes in the backdrop of the US decision to withdraw export incentives provided to Indian exporters under Generalised System of Preferences (GSP) programme. America has given 60 days-notice, which will come to an end this week, to withdraw the export incentives.
However, on May 6, the US Commerce Secretary Wilbur Ross and Indian Commerce Minister Suresh Prabhu will hold bilateral meetings to discuss trade-related issues.
According to sources, India may impose retaliatory import duties on the US if the latter withdraws the GSP benefits.
India wants the United States to exempt them from the high duties imposed on certain steel and aluminium products and also provide them greater market access for agriculture, automobile, automobile components and engineering sector products.
The US, on the other hand, is demanding greater market access through a cut in import duties for its agriculture goods, dairy products, medical devices, IT and communication items.
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