Trade wel­comes de­lay in im­ple­ment­ing re­tal­ia­tory tar­iffs

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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.

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