NEW DELHI (Reuters) -India has proposed to levy import duties on some products made in the United States to counter Washington’s tariffs on steel and aluminium products produced in Asia’s No.3 economy, a notice to the World Trade Organization (WTO) shows. “The proposed suspension of concessions or other obligations takes the form of an increase […]
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India proposes counter duties against US, notice to WTO shows
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NEW DELHI (Reuters) -India has proposed to levy import duties on some products made in the United States to counter Washington’s tariffs on steel and aluminium products produced in Asia’s No.3 economy, a notice to the World Trade Organization (WTO) shows.
“The proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the United States,” India said in the notice dated Monday.
U.S. President Donald Trump has unleashed sweeping global tariffs since taking office earlier this year, including imposing levies on steel and aluminium imports, following similar measures in 2018 during his first term.
India, the world’s second-largest crude steel producer, told the WTO that Washington’s “safeguard measures” would affect $7.6 billion worth of India-made products imported into the United States.
India’s proposed duties on U.S. products comes as the two countries are set to clinch a trade deal, with New Delhi offering to slash tariff gap by two-thirds.
(Reporting by Shivangi Acharya in New Delhi and Hritam Mukherjee in BengaluruEditing by Shri Navaratnam)