India halts import tariffs hike on U.S. goods

India halts import tariffs hike on U.S. goods

India on Monday, held off raising tariffs on select goods from the United States until end-January 2019, the government said.

This is the fourth time New Delhi is deferring retaliatory action against higher import tariffs imposed by the U.S. on steel and aluminium.

Angered by Washington’s refusal to exempt it from higher steel and aluminium tariffs, India said in June that it would raise import tax from Aug. 4 on some U.S. products, including almonds, walnuts and apples.

The country further delayed imposing higher taxes thrice until Dec. 17, and with negotiations still going on, decided to defer the date again.

..