New Delhi: India on Wednesday proposed retaliatory tariffs against the US under the World Trade Organisation (WTO) norms over American tariffs on steel and aluminium in the name of safeguard measures.
"The safeguard measures would affect $7.6 billion imports into the United States of the relevant products originating in India, on which the duty collection would be $3.82 billion," India told the WTO.
Last week, India proposed retaliatory tariffs against the US' auto duties.
The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the US.
"Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US," India said.
In May, India had proposed to impose retaliatory duties on certain American products under the WTO to counter the American tariffs on steel and aluminium in the name of safeguard measures. New Delhi told the WTO that these measures would affect $7.6 billion imports into the US.
"This notification is made in connection with safeguard measures extended by the US on imports of aluminium, steel and derivative articles" India said Wednesday.
The development assumes significance as India and the US are negotiating a trade agreement, the first tranche of which is to be concluded by September-October.
On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25% and 10% ad valorem tariffs respectively on such products with effect from March 23, 2018. On February 10, 2025, it revised the safeguard measures on imports of steel and aluminium articles, effective from March 12.
"The safeguard measures would affect $7.6 billion imports into the United States of the relevant products originating in India, on which the duty collection would be $3.82 billion," India told the WTO.
Last week, India proposed retaliatory tariffs against the US' auto duties.
The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the US.
"Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US," India said.
In May, India had proposed to impose retaliatory duties on certain American products under the WTO to counter the American tariffs on steel and aluminium in the name of safeguard measures. New Delhi told the WTO that these measures would affect $7.6 billion imports into the US.
"This notification is made in connection with safeguard measures extended by the US on imports of aluminium, steel and derivative articles" India said Wednesday.
The development assumes significance as India and the US are negotiating a trade agreement, the first tranche of which is to be concluded by September-October.
On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25% and 10% ad valorem tariffs respectively on such products with effect from March 23, 2018. On February 10, 2025, it revised the safeguard measures on imports of steel and aluminium articles, effective from March 12.
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