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Economy

Trade ministry proposes delaying retaliatory tariffs on US goods

Updated : March 29, 2019 07:32 PM IST

Trade friction between India and the United States escalated after President Donald Trump announced plans earlier this month to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
In June last year, India had announced it would increase import duties varying from 20 percent to 120 percent on a slew of US farm, steel and iron products, angered by Washington's refusal to exempt it from new steel and aluminium tariffs.
Trade ministry proposes delaying retaliatory tariffs on US goods

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