India, Sept. 18 -- The penal tariff imposed on Indian imports by the US government may be withdrawn after November 30, Chief Economic Adviser (CEA) V Anantha Nageswaran said on Thursday, expressing optimism that trade ties between the two countries will see significant improvement.

Reflecting on the tariff tensions between India and the US, the top official said developments were underway to improve the situation.

"All of us are already at work, and I will take some time to talk about the tariff here. Yes, the original reciprocal tariff of 25 per cent plus the penal tariff of 25 per cent both were not anticipated. I still believe that geopolitical circumstances may have led to the second 25 per cent tariff, but considering recent develo...