After failing to get an exemption on tariff hikes by the Donald Trump administration, India on Tuesday raised the issue of US imposing higher tariffs on certain steel items at the committee of safeguards of the World Trade Organisation (WTO) seeking consultation.
On 8 March, the United States issued a presidential proclamation indicating that steel articles are being imported into US in such quantities as to threaten to impair its national security. To address this situation, the US imposed a 25% tariff on certain steel articles with effect from 23 March.
However, a Delhi-based trade expert, on the condition of anonymity, said that India can only “name and shame” the US by raising the matter in the safeguards committee as the panel does not have any adjudicating power. “For seeking compensation of business loss, India needs to drag the US to the dispute settlement mechanism,” he added. Read More