Solution to tariff issues with US likely in 8-10 weeks: CEA

Chief Economic Advisor V Anantha Nageswaran on Thursday said he expects that a solution to the tariff issues with the US is likely to be arrived in the next eight to ten weeks.

The additional 25 per cent tariff imposed by the US on Indian products for the country's purchases of Russian oil came into effect in August, bringing the total amount of levy on New Delhi to 50 per cent.

Speaking at an interactive session organised by Bharat Chamber of Commerce here, he said, "Underneath the surface, conversations are going on between the two governments. My hunch is that in the next eight to ten weeks, we will likely see a solution to the penal tariff imposed by the US on Indian goods."

India's exports to the US stood at USD 85 billion.