Krishi VaartaOutlook Agriculture
India extends retaliatory tariff deadline on US products till May 16
The Government has extended its deadline to impose retaliatory import duties on 29 products from the United States (US), including almond, walnut and pulses, till May 16.
A notification of the Finance Ministry has said that the implementation of increased customs duty on specified imports, originating in the US, has been postponed from May 2 to May 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 after the US decided to withdraw export incentives being provided to them to Indian exporters under the Generalised System of Preferences (GSP) programme. The programme is expected to impact India’s exports to the US worth $5.6 billion under this scheme. The US has given 60 days notice, which would end this week, to withdraw these benefits. Amid this, US Commerce Secretary Wilbur Ross and Commerce Minister Suresh Prabhu will hold bilateral meetings on May 6 here to discuss trade-related issues.
Source - Outlook Agriculture, 04 May 2019
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