India postpones retaliatory tariff deadline on US

Category : USA News
Updated On : May 15, 2019 02:32 AM
By Indian Times Daily

The government Tuesday again extended its deadline to impose retaliatory import duties on 29 US products, including almond, walnut and pulses, till June 16.

A notification of the finance ministry said that implementation of increased customs duty on specified imports originating in the US has been postponed from May 16 to June 16 this year.

These deadlines were extended several times since June 2018, when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium products.

This extension comes in the backdrop of the US decision to withdraw export incentives being provided to Indian exporters under Generalised System of Preferences (GSP) programme, which is expected to impact India's exports to the US worth $5.6 billion under this scheme.

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