India again extends deadline to impose higher import duties on 29 US products
New Delhi, Feb 27 (KNN) For the unprecedented sixth time, the government of India has once again extended the deadline to impose higher import duties on 29 US products including almond, walnut and pulses, till April 1, 2019.
As the discussions are going on between India and the US for a proposed trade package, the Commerce Ministry had asked its finance counterpart to again defer the implementation of a notification to impose high duties on US products.
A notification said that implementation of increased customs duty on specified imports originating in USA has been postponed from March 2, 2019 to April 1, 2019.
In response to unilateral increase in steel and aluminium duties from India and other countries by the Trump administration, India decided to impose retaliatory tariffs on import of mostly agriculture goods like apples, almonds, walnuts and some industrial products.
To increase trade in short term, medium term and identify long-term trade potentials, senior officials of India and the US are in discussions to finalise a kind of trade package.
On one hand where India is pressing for exemption from high duty imposed by the US on certain steel and aluminium products. On the other hand, US is demanding greater market access through cut in import duties for its agriculture goods, dairy products, medical devices, IT and communication items.