NEW DELHI, India, March 31 (NNN-PTI) – India has once again extended the deadline to impose retaliatory tariffs on as many as 29 U.S. products, including almond, walnut and pulses, from April 1 to May 2.
A notification to this effect has been issued by the government in this regard, confirmed a senior official in the country’s Ministry of Finance.
Meanwhile, local media reports stated that, India has extended this deadline over half a dozen times since June 2018, when it first decided to impose these duties, in retaliation to a move by the United States to impose high customs duties on certain steel and aluminium products.
India is pushing the dates as both sides are negotiating a trade package to boost bilateral commerce.
But earlier this month, the United States decided to withdraw export incentives being provided by them to Indian exporters, for certain goods under Generalised System of Preferences (GSP) programme.
Extension of these benefits were part of the negotiations between the two countries. Now, these incentives are expected to be withdrawn from May 2.
Indian exporters are jittery over the United State’s decision to withdraw these incentives, as they export goods worth 5.6 billion U.S. dollars under the GSP programme.– NNN-PTI
