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India has kept its gun loaded by notifying retaliatory tariffs on US imports, but deferred the firing by more than a month as it hopes to persuade Washington to roll back its penal tariffs on Indian steel and aluminium when trade officials from both sides meet next week.
New Delhi has also reworked the retaliatory duty structure proposed earlier and kept out a sensitive item — the Harley-Davidson motorbikes — from the list, as Commerce Ministry officials said that it would not have led to much impact on THE total collection of duty.
“Imposing additional duties on motorbikes would not have increased our revenue collection,” the official clarified.
“A team of trade officials from the US led by Assistant US Trade Representative Mark Linscott will be in New Delhi on June 26 to discuss trade concerns with Indian officials. We hope to persuade the team to withdraw the additional duties on steel and aluminium applied on Indian import applied on grounds of national security as India does not pose any threat to the US,” a government official told BusinessLine .
However, if the US does not agree to withdraw the increased duties of 25 per cent on steel and 10 per cent on aluminium, New Delhi will go ahead and impose the notified retaliatory duties on August 4, as specified, the official said.
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