New Delhi: After signing the Free Trade Agreement with England, India has now started dialogue with the US for a bilateral trade agreement. A new tension has arisen at such a time. India has warned the World Trade Organization against imposing tariffs on goods worth $ 7.6 billion imported from the US. In response to the US imposing 25% tariffs on Indian steel and aluminum, India has proposed to impose these mutual tariffs within the next 30 days.
US President Donald Trump, as soon as he started his second term, drove the tariff weapon on countries around the world. Trump announced a 25% tariff on steel and aluminum imports from India. India appealed against the US move to the World Trade Organization (WTO). India has said in a message sent to the WTA that it can impose a counter -tariff equal to its business loss due to tariffs and hence India will increase tariffs on some American goods.
According to the World Trade Organization, the US tariff will affect India’s import of goods worth $ 7.6 billion, resulting in a $ 1.91 billion tariff. In response, like adopting a tit strategy, India has proposed to impose equal tariffs on some goods imported from the US. Through this notice, India told the World Trade Organization that it is ending the exemption given to some American goods and will increase import duty on them. According to the report, India can increase import duty on 29 items including apples, almonds, walnuts, pears and chemicals.
According to media reports, India has told the World Trade Organization that the US has implemented security measures on imports of aluminum and steel products, but it has not been reported to the World Trade Organization. India says that the step taken by the US is not in accordance with GATT 1994 and AOS. Not only this, there is no discussion under Section 12.3 of AOS. Therefore, India got AOS Article 8 has the right to cancel the exemption under Article 8.
In 2018, the US imposed 25% tariff on imported steel from the US and 10% on aluminum. These tariffs came into effect from March 23, 2018. In response, in June 2019, India tariffs 28 American goods including almonds and walnuts and filed a complaint with the WTO.
A team of senior officials led by Commerce and Trade Minister Piyush Goyal will leave for a four -day visit on a four -day visit on 17 May to carry forward the bilateral trade agreement (BTA) with the US. During the visit, Piyush Goyal will interact on the agreement with American Trade Representative (USTR) Zamison Greer and US Commerce Secretary Howard Lutnik.
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