INSUBCONTINENT EXCLUSIVE:
and Industry has proposed to delay by a month the imposition of retaliatory tariffs on some US goods that were due to go into effect from
April 1, a spokeswoman told news agency Reuters on Friday
Trade friction between India and the United States escalated after US 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 US.Indian officials
believe the country could lose its preferential treatment in early May
The Indian government has asked the US administration to review its decision, two government officials with close knowledge of the matter
said.In June last year, India had announced it would increase import duties varying from 20 per cent to 120 per cent on a slew of US farm,
steel and iron products, angered by Washington's refusal to exempt it from new steel and aluminium tariffs.But since then, Delhi has
repeatedly delayed the implementation of those enhanced duties.The trade ministry spokeswoman said the government planned to send a
delegation to Washington to address bilateral trade issues, and that the ministry was seeking to hold off imposing retaliatory tariffs until
May."The Ministry of Commerce has requested the Department of Revenue to extend the deadline for imposition of tariffs on US goods by
another 30 days," the spokeswoman said.The revenue department falls within the Ministry of Finance, and the two ministries need to consult
over any decision to delay the tariffs.India is the world's largest beneficiary of the Generalized System of Preferences (GSP), which
dates from the 1970s, and ending its participation would be the strongest punitive action the US has taken against the country since Mr
Trump took office.The timing of the US decision to revoke the trade privileges is awkward for India as Prime Minister Narendra Modi's
government is heading into a general election
Voting will take place between April 11 and May 19, and the results will be announced on May 23.Get the latest election news, live updates
and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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