Last year, India reduced the duty on completely built premium bikes from 75% to 50%. New Delhi and Washington have been engaged in a simmering trade conflict since the US trade representative’s office notified the US Congress and New Delhi in March that Indian exports did not qualify for the Generalised System of Preferences (GSP).
New Delhi (Sputnik): US Commerce Secretary Wilbur Ross on Tuesday warned New Delhi against imposing retaliatory tariffs in the backdrop of Washington’s planned withdrawal of some trade privileges for India, according to Indian news channel CNBC TV18.
The warning, conveyed through the visiting US commerce secretary to India on Tuesday, came days after President Donald Trump threatened fresh tariffs on Chinese goods as well.
Nevertheless, Ross emphasised the market opportunities available in India despite trade barriers. Earlier in the day, Ross met the Indian prime minister and “raised several matters, including trade barriers”.