In an attempt to avoid a tariff war with the United States, India is likely to defer implementation of retaliatory tariffs on the import of around 29 products, including apples, walnuts, pulses, certain iron and steel products by 45 days.
The duty was scheduled to come into effect from September 18.
In June, India, incensed by Washington’s refusal to exempt it from these new tariffs, announced it would raise import tax on some US products including almonds, walnuts and apples.
Trade differences between India and the United States have been rising since Trump took office. Bilateral trade rose to $115 billion in 2016, but the Trump administration wants to reduce its $31 billion deficit with India and is pressing New Delhi to ease trade barriers.With inputs from Reuters.