Even as the Sino-US trade war tensions have again taken a new worrisome path with the US President Trump planning to levy 10% tariff on Chinese goods worth $200 billion next week and the Chinese government in reciprocation announcing to retaliate it, stance of India shows significant contrast which has again deferred the levy of retaliatory tariffs on some of the US imports.
As per the finance ministry notification, the plan has been deferred until November 2. Earlier the centre planned to impose higher tariffs beginning August 4 but this was delayed to September 18 as both the countries convened meetings for avoiding trade war situation.
This step by the Indian government shows the country's inclination to find a solution and avert a full-blown trade war with the US.
In accordance with the local media reports, the US with some pre-specified conditions is willing to withdraw trade tariffs on Indian aluminum and steel. This marks a stark difference in the US President's dealings with India.
The original retaliatory tariff plan of India, against the US levy of 25% and 10% on Indian steel and aluminum, respectively, would include items imported from the US such as some hot-rolled coil products, walnuts, almonds, boric acid, apples and diagnostic reagents.