Trade welcomes delay in implementing retaliatory tariffs
The Government of India has delayed the implementation of higher tariffs against agricultural goods such as almonds and walnuts from the US. The increased tariffs will be in effect starting 18th September 2018. Although trade organizations welcomed this delay, a number of them have requested the government to revoke any ambiguity in order to ensure a continuous, smooth flow of business. In a press release, Forum of Food Importers said, “We need to have an environment of stable trade and we urge both countries to understand the power of firm longterm trade relationships.” The fortyfive-day delay in the implementation date postponed a hike in the retail prices of these products but led to a rise in the uncertainty surrounding future tariff rates and their impact on firms looking to enter and exit these particular markets.