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The Hindu
11-07-2025
- Business
- The Hindu
India revises proposed retaliatory duties against U.S. over steel, aluminium tariffs: WTO
India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the U.S. over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The U.S. first imposed 25% tariffs on imports of aluminium, steel, and derivative articles on March 12. On June 3, the taxes were raised to 50%. Also read | Indian team to visit U.S. again to seek clarity, further negotiate on trade deal 'Without prejudice to its earlier notification to the Council for Trade in Goods and the Committee on Safeguards dated May 12, India reserves its right to adjust the products and tariff rates. This request is made in response to the increase in the tariff rate by the U.S. from 25% ad valorem to 50%,' the WTO has said in a communication on Wednesday. This was circulated among WTO members at the request of India. The communication said the proposed suspension of concessions or other obligations can take the form of an increase in tariffs on select products originating in the U.S. "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," it said. Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the U.S. In the May 12 communication, the duty collection figure was stated as $1.91 billion. The first Trump administration, in 2018, imposed a 25% duty on certain steel items and a 10% duty on aluminium products on the grounds of national security. In retaliation, India in June 2019 slapped customs duties on 28 U.S. products, including almonds and walnuts. India had also filed a complaint in the WTO. The proposal assumes significance as both countries are negotiating a Bilateral Trade Agreement (BTA). The Indian team is expected to visit Washington next week for trade talks.
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Business Standard
10-07-2025
- Business
- Business Standard
India revises WTO retaliatory duties as US hikes steel, aluminium tariffs
India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The US first imposed 25 per cent tariffs on imports of aluminium, steel and derivative articles on March 12. Again, on June 3, the taxes were hiked to 50 per cent. "Without prejudice to its earlier notification to the Council for Trade in Goods and the Committee on Safeguards dated May 12, India reserves its right to adjust the products and tariff rates. This request is made in response to the increase in the tariff rate by the US from 25 per cent ad valorem to 50 per cent," the WTO has said in a communication on Wednesday. This was circulated among WTO members at the request of India. It said that the proposed suspension of concessions or other obligations can take the form of an increase in tariffs on selected products originating in the US. "The safeguard measures would affect USD 7.6 billion imports into the United States of the relevant products originating in India, on which the duty collection would be USD 3.82 billion," it said. Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in America. In the May 12 communication, the duty collection figure was stated as USD 1.91 billion. The first Trump administration, in 2018, imposed a 25 per cent duty on certain steel items and a 10 per cent duty on aluminium products on the grounds of national security. In retaliation, India in June 2019 slapped customs duties on 28 US products, including almonds and walnuts. India had also filed a complaint in the WTO. The proposal assumes significance as both countries are negotiating a Bilateral Trade Agreement (BTA). The Indian team is also expected to visit Washington next week to the US for trade talks.
Time of India
10-07-2025
- Business
- Time of India
India revises proposed retaliatory duties against US over steel, aluminium tariffs in WTO
India has revised its proposal to impose retaliatory duties under the WTO ( World Trade Organisation ) norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The US first imposed 25 per cent tariffs on imports of aluminium, steel and derivative articles on March 12. Again, on June 3, the taxes were hiked to 50 per cent. "Without prejudice to its earlier notification to the Council for Trade in Goods and the Committee on Safeguards dated May 12, India reserves its right to adjust the products and tariff rates. This request is made in response to the increase in the tariff rate by the US from 25 per cent ad valorem to 50 per cent," the WTO has said in a communication on Wednesday. This was circulated among WTO members at the request of India. It said that the proposed suspension of concessions or other obligations can take the form of an increase in tariffs on selected products originating in the US. Live Events "The safeguard measures would affect USD 7.6 billion imports into the United States of the relevant products originating in India, on which the duty collection would be USD 3.82 billion," it said. Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in America. In the May 12 communication, the duty collection figure was stated as USD 1.91 billion. The first Trump administration, in 2018, imposed a 25 per cent duty on certain steel items and a 10 per cent duty on aluminium products on the grounds of national security. In retaliation, India in June 2019 slapped customs duties on 28 US products, including almonds and walnuts. India had also filed a complaint in the WTO. The proposal assumes significance as both countries are negotiating a Bilateral Trade Agreement (BTA). The Indian team is also expected to visit Washington next week to the US for trade talks.
Time of India
07-07-2025
- Business
- Time of India
India proposes retaliatory duties against US auto tariffs
India on Friday proposed imposing of retaliatory duties under WTO norms against the US tariffs on imports of auto parts in the name of safeguard measures. "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the US," according to a notification of the WTO being circulated at the request of India. India has notified WTO's Council for Trade in Goods of its proposed suspension of concessions and other obligations under certain WTO provisions. "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India," it said. On March 26 this year, the US adopted a safeguard measure in the form of a tariff increase of 25 ad valorem on imports of passenger vehicles and light trucks, and on certain auto parts from India. These measures apply from May 3, 2025 as regards auto parts, and for an unlimited duration. The measures have not been notified by the US to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the US are not consistent with the GATT (General Agreement on Trade and Tariff) 1994 and the agreement on safeguards. As consultations sought by India on these tariffs have not taken place, "India reserves the right to suspend concessions or other obligations", the WTO notification added. The safeguard measures would affect $2,895 million imports annually into the US of the relevant products originating in India, on which the duty collection would be $723.8 million. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US," it said. To ensure the effective exercise of its right to suspend substantially equivalent concessions or other obligations, the multinational body said, India has reserved its right to adjust the products as well as the tariff rates. agencies>
Time of India
04-07-2025
- Automotive
- Time of India
India proposes retaliatory duties against US auto tariffs
NEW DELHI: India on Friday proposed imposing of retaliatory duties under WTO norms against the US tariffs on imports of auto parts in the name of safeguard measures. "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the US," according to a notification of the WTO being circulated at the request of India. India has notified WTO's Council for Trade in Goods of its proposed suspension of concessions and other obligations under certain WTO provisions. "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India," it said. On March 26 this year, the US adopted a safeguard measure in the form of a tariff increase of 25% ad valorem on imports of passenger vehicles and light trucks, and on certain auto parts from India. These measures apply from May 3, 2025 as regards auto parts, and for an unlimited duration. The measures have not been notified by the US to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the US are not consistent with the GATT (General Agreement on Trade and Tariff) 1994 and the agreement on safeguards. As consultations sought by India on these tariffs have not taken place, "India reserves the right to suspend concessions or other obligations", the WTO notification added. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo by Taboola by Taboola The safeguard measures would affect $2,895 million imports annually into the US of the relevant products originating in India, on which the duty collection would be $723.8 million. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US," it said. To ensure the effective exercise of its right to suspend substantially equivalent concessions or other obligations, the multinational body said, India has reserved its right to adjust the products as well as the tariff rates. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
