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    India Postpones Retaliatory Tariff on US Products by 45 Days

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    In June this year, India had notified retaliatory import tariffs on 29 American goods. The imposition of such tariffs was impending from 4th of August.

    New Delhi (Sputnik): India's Ministry of Commerce has decided to postpone the date for implementing the retaliatory import tariff on US goods by 45 days.  The Commerce Ministry has put forth the recommendation to the Country's revenue department, as the two countries are set to discuss a range of issues, including trade, during the 2+2 ministerial dialogue on September 6 in New Delhi.

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    "We have asked to the Department of Revenue to amend the notification for further extension of retaliatory measures for 45 days," a Commerce Ministry official told Sputnik.

    The official said that the amended notification will be issued on August 4 by the Department of Revenue. For the past month, officials from India's Ministry of Trade and Commerce have been in negotiations with their American counterparts on getting an exemption to the higher tariffs imposed by the US on steel and aluminum imports.

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    India has already filed a request for consultations with the World Trade Organization (WTO) on the matter. Nevertheless, India has been engaged with the US for an amicable solution of the issue.

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    retaliatory measures, import tariffs, commerce, postponement, revenue, Indian Ministry of Commerce and Industry, World Trade Organization (WTO), India, United States
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