New Delhi, May 13 (IANS) India has informed the World Trade Organisation (WTO) that it proposes to impose retaliatory tariffs on select American goods, to counter the duties on Indian steel and aluminium exports levied by the US as safeguard duties.
According to a WTO communication, these US safeguard measures would impact $7.6 billion worth of imports of Indian products, with an estimated duty collection of $1.91 billion.
In April, India requested consultations with the US under the WTO’s safeguard agreement when the decision to levy the tariffs was announced.
The US stance at the WTO was that the tariffs on Indian goods were imposed on national security grounds and should not be regarded as safeguard measures.
India, in its notification to the WTO, announced its intent to suspend concessions and other obligations in response to the US safeguard measures on steel, aluminium, and related products, as outlined in a Presidential Proclamation dated February 10, 2025, with the measures set to take effect on March 12.
The WTO communication, dated May 9, 2025, was circulated at India’s request. It noted that although the US has not formally notified these measures to the WTO, they are effectively considered safeguard measures.
“India maintains that the measures taken by the US are not consistent with the General Agreement on Trade and Tariff (GATT) 1994 and Agreement on safeguards (AoS),” it said, adding that as consultations provided for under a provision of the AoS have not taken place, India reserves the right to suspend concessions or other obligations that are substantially equivalent to the adverse effects of the measure to India’s trade,” India’s notification said.
Without prejudice to the effective exercise of its right to suspend substantially equivalent obligations, India reserves its right to suspend concessions after the expiration of 30 days from the date of this notification, it further said.
While the proposed duties are still at the WTO notification stage, India is also close to finalising a new bilateral trade agreement with the Trump administration.
–IANS
sps/svn
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
