(This version of the story corrects to say India won’t discuss retaliatory duty issue with U.S., not that India has no plan to impose retaliatory tariffs)
NEW DELHI (Reuters) - India is keeping retaliatory duties out of its discussions with the United States, an Indian trade ministry official said on Tuesday, after U.S. President Donald Trump said he planned to end India’s preferential trade treatment.
“Discussions are on with the United States, and given cordial and strong ties, keeping retaliatory tariffs out of it,” Commerce Ministry Secretary Anup Wadhawan told reporters. “The government will internally review the retaliatory tariff issue.”
Wadhawan said the withdrawal of the Generalised System of Preferences (GPS) for Indian products would have limited impact. The two countries had been working on a trade package to address each other’s concerns, he said.
Under the GSP program, India exports $5.6 billion worth of goods to the United States duty free.
Reporting by Aftab Ahmed; Editing by Sanjeev Miglani