India imposes retaliatory tariffs on US imports as a response to Trump’s tariffs on steel and aluminium.

by

India has officially responded to the latest round of US tariffs with its own set of retaliatory duties. The Trump administration’s decision to impose 25 percent tariffs on steel and aluminium imports has triggered swift action from New Delhi, which is now preparing to levy duties on $7.6 billion worth of American goods. The move is designed to counter what India calls an unfair trade restriction that violates global trade norms.

The World Trade Organization has been notified of India’s intent to suspend trade concessions, effectively imposing equivalent tariffs on selected US products. The Indian government argues that Washington’s measures amount to safeguard duties, despite US claims that they are necessary for national security. The retaliatory tariffs could lead to $1.91 billion in duty collections, hitting American exporters hard.

Sources:

https://www.thehindubusinessline.com/economy/india-warns-the-us-at-wto-of-retaliation-against-76-billion-imports-over-its-steel-aluminium-tariffs/article69570351.ece

https://www.goodreturns.in/news/india-proposes-retaliatory-duties-against-us-over-steel-aluminium-tariffs-in-wto-1428751.html

https://timesofindia.indiatimes.com/business/india-business/india-plans-retaliatory-tariffs-on-us-steel-and-aluminium-duties-under-wto-norms/articleshow/121135956.cms