Happens while there is talk of a “very big India-US deal”
To ensure the effective exercise of its right to suspend substantially equivalent concessions or other obligations, the multinational body said, India has reserved its right to adjust the products as well as the tariff rates.
“India reserves the right to withdraw, modify, supplement or replace this notification,and/or make a further notification or notifications as and when required,” it added.
The development is important as India and the US are actively negotiating an interim trade agreement to boost trade ties.
In fact, President Trump had announced that the two nations were on the cusp of a “very big deal” soon.
India had last month taken similar measures against the US tariffs on steel and aluminium.
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