New Delhi: India may impose higher tariff duties on 29 goods imported from the US from April 1. This comes after the United States withdrew benefits to India under the Generalised System of Preferences (GSP).
Higher duties may be imposed on walnuts, chickpeas, lentils, boric acid and diagnostic reagents from the US, among other goods, imposing an additional burden of $290 million on them. The increased levies, proposed in June 2018 after the US announced higher tariffs on certain steel and aluminium products from which India had sought an exemption, have been deferred six times in view of the bilateral trade dialogue.
“We will wait for the April 1 deadline and then impose the higher tariffs,” said an official from the Ministry of External Affairs.
With the US terminating preferential treatment to Indian exports under GSP, India is likely to let the tariffs kick in even though it has maintained that retaliatory tariffs are a separate issue.
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