India to defer its retaliatory tariffs on US products for the fourth time

AL Circle

India once again is likely to postpone retaliatory tariffs on 29 imported products from the US worth US$235 million to January 31, 2019. This would be the fourth time that India is deferring the duty.

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A senior government official told Moneycontrol “The implementation of higher import duty is likely to be postponed again by another 45 days.”

On June 21, India had first announced its decision to hike import duty on 29 products from the US with effect from August 4, as a retaliatory measure against the Trump administration’s decision to levy additional tariffs on certain aluminium and steel products imported from India.

The Indian government later postponed the implementation of the tariff to September 18, in a bid for the two nations to find a mutual solution, and then again to November 2 and December 17.

The higher import duty on the US products, if come into effect, will include apples, walnuts, lentils, chocolates, as well some iron and steel items among others.

India and the US have been in discussions on key trade-related issues amicably.

The United States Trade Representative, responsible for coordinating US international trade negotiations for other countries, is also expected to visit India soon.

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