India Takes Up US Import Tariffs With WTO

India Takes Up US Import Tariffs With WTO

by Swarajya Staff - Thursday, April 19, 2018 11:57 AM IST
India Takes Up US Import Tariffs With WTO Steel rolls at the Posco-Indias processing centre in MIDC Talegaon at the outskirts of Pune. (ABHIJIT BHATLEKAR/Mint via GettyImages)

Following the United States’ decision to impose steep tariff on the import of steel and aluminium last month, India has taken up the matter with the World Trade Organisation (WTO) after bilateral talks between the two nations went nowhere, reports The Hindu Business Line. India has sought discussions for adequate compensation for losses due to the high tariffs of 10 per cent on aluminium and 25 per cent on steel.

However, India hopes to solve the matter with high level consultations with the United States without having to resort to going towards a dispute resolution panel.

India is clear it in no way deserves to be saddled with the 10 per cent higher import duty on aluminium and 25 per cent duty on steel as it neither poses a security threat to the US nor has it remained unresponsive to the bilateral trade imbalance. If the higher duties on the two items are not rolled back, India has to be compensated as per WTO rules.
A government of India official

India said that it considers the US action to be an emergency or safeguard measure under the Agreement of Safeguards in its submission to the WTO Committee on Safeguards. India also said that it reserves the right to raise additional issues and make further arguments.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber