India may again defer duty hike on US products till March 2

New Delhi: The government may again defer the deadline to impose retaliatory customs duties on 29 US products, including almond, walnut, and pulses, by another 30 days till March 2, an official said.

In December 2018, the government for the fourth time deferred the deadline till January 31.

“As discussions are going on between India and the US for a proposed trade package, the commerce ministry has asked its finance counterpart to again defer the implementation of the notification till March 2,” the official said.

The finance ministry is expected to issue a notification regarding this soon.

In June last year, India decided to impose retaliatory tariffs after the US imposed high customs duties on certain steel and aluminum products.

As part of the imposition of higher import duties, New Delhi has notified higher tariffs on several products. While import duty on walnut is to be hiked to 120 percent from 30 percent currently, duty on chickpeas, Bengal gram (chana) and Masur dal will be raised to 70 percent, from 30 percent currently. Levy on lentils will be increased to 40 percent, from 30 percent.

Leave a Reply