30 8月 India likely to urge WTO for US aluminium and steel imports tariffs
India likely to urge WTO for US aluminium and steel imports tariffs
Like many other countries, India too is perturbed about the US aluminium and steel imports tariffs and thus, decided to approach the WTO’s dispute settlement body to question the duty hike, especially after an exception made for the European Union, Australia, Canada and Mexico by the US on late Thursday evening.
Until the time the European Union was exempt from the US imports tariffs, Indian government thought to go along with the EU and approach the WTO. But now since the EU is outside the ambit of the hike, India has to design a new strategy by its own, said an incognito official.
Brazil, South Korea, Japan and EU already questioned the US action (without naming it) when trade ministers and envoys from over fifty countries met in the Capital on Tuesday. Among them, Norway was the only nation to name the US while questioning the action.
Although India is not one of those large aluminium and steel exporters to the US, yet the experts and former trade officials advised the country to take a strategic plan on the issue, especially given to the fact that the US warned India to drag it to the WTO for half-a-dozen export promotion schemes like subsidising exports, which is performing against the global trade rules and impacting American businesses and workers.
As reported by an agency, quoting US Trade Representative Rober Lighthizer, the retaliation planned by India against the US has caused a slight tension among the latter.
During a Congressional hearing, Robert told lawmakers, “India has a substantial trade surplus with the US and they have a system which is not particularly open.”
He further said, “They have a system that has a number of vulnerabilities. So, to the extent, there are individuals who have this problem, all I can say is we’ll try to work with them. It’s a serious problem and one that we have considered.”
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