India has informed the World Trade Organisation (WTO) that it proposes to impose duties on certain US-made products shipped to India, in response to Washington’s tariffs on Indian steel and aluminium products. The WTO communication indicates that these US safeguard measures could impact over $7 billion worth of imports from India and the estimated duty collection may be close to $2 billion from these tariff levies.
India’s proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in America. The US has in the past hit India with 25% retaliatory tariffs. India’s WTO communication added that the measures have not been notified by the US to the WTO, but are, in essence, safeguard measures, as per a report. source: Exim News Service: Geneva, May 14
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