Kolkata, Sep 18 (PTI) 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. PTI DC BDC

Trade tariffs: bilateral negotiations with the United States may yield a resolution to penal duties on Indian goods soon. Imposition of additional US import levies in response to India's purchases of Russian oil increased the cumulative charge on affected Indian goods, prompting active government-to-government consultations. Indian officials report ongoing bilateral discussions and express an expectation that a negotiated resolution to the penal tariff component will likely be achieved within eight to ten weeks, a development with direct implications for exporters and trade policy compliance.