India Seeks Higher Retaliatory Tariffs on US
(MENAFN) India has suggested a sharper and updated set of retaliatory tariffs against the United States under the guidelines of the World Trade Organization (WTO), as per a communication released by the global trade body to its member nations on Wednesday.
These proposed duties come at a time when both countries are engaged in discussions over a fresh trade agreement.
The move is a countermeasure to US-imposed tariffs on steel and aluminum, which the administration of US President Donald Trump has described as “safeguard measures.”
The WTO document, shared at India’s behest, reveals that New Delhi plans to raise its tariffs on US steel and aluminum from the earlier 25 percent to 50 percent.
According to the notification, “India reserves its right to adjust the products and tariff rates.” It further noted, “This request is made in response to the increase in the tariff rate by the US from 25% ad valorem to 50%.”
India communicated to the WTO that these American actions would impact Indian shipments to the US valued at USD7.6 billion.
The projected amount of duty levied on these exports would reach USD3.82 billion.
“Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US,” the notification clarified.
The move, as reported in the WTO document, underscores India’s strategy to counterbalance the economic effects of US trade decisions through proportionate tariff actions.
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