India reaches WTO against America, gives notice against steel and aluminum duty
India has filed a complaint in the WTO against the 25% duty imposed by America on steel and aluminum. Calling it unfair, India demanded suspension of the duty or else warned of imposing a similar duty on American steel and aluminum. This step was taken during the ongoing trade talks between the two countries. India's steel-aluminum export of $ 7.6 billion to America is getting affected.
India has knocked at the door of the World Trade Organization (WTO) against the 25 percent tax, which America has imposed on steel and aluminum. India has notified the WTO in this respect, describing this tax of America as unfair and has insisted upon the suspension of the same.
India has stated that in case this is not done, India too shall levy a 25 percent duty on American steel and aluminum. India has approached the WTO against America at a time when negotiations are underway for the trade agreement between the two.
After the formation of the Trump government in America, continuous changes are being made in its duty policy. Under this, America imposed a 25 percent duty on steel and aluminum coming to America from all countries, from March 12. India has described this duty as a safeguard duty and said that America did not even give any information to the WTO in this regard.
America is calling this duty a decision taken in the national interest instead of a safeguard duty. India has said that if the WTO does not intervene in this matter, then from June 8, India will also impose a 25 percent duty on steel and aluminum coming from America to India.
India exports steel and aluminum worth 7.6 billion dollars annually to America, which is being affected due to the American duty policy. Due to the increase in duty, America will recover an additional 1.91 billion dollars on the export of Indian steel and aluminum as compared to earlier. India wants to compensate for this additional recovery from America.
