Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India asks WTO to set up panel against US for imposing high import duty on steel, aluminium.


Date: 21-11-2018
Subject: India asks WTO to set up panel against US for imposing high import duty on steel, aluminium
Taking forward trade dispute with America in the World Trade Organization (WTO), India has asked the Geneva-based multilateral body to set up a panel against the US for imposing high import duties on certain steel and aluminium products, an official said.

India took this decision after both the countries failed to resolve the issue in a bilateral consultation process under the dispute settlement mechanism of the WTO.

Consultation is the first step of the dispute settlement process in the organisation. If the two countries are not able to reach a mutually agreed solution through consultation, a country can request for a WTO dispute settlement panel to review the matter.

"So, now, India has asked the WTO for establishment of the dispute panel on the matter," the official said.

Imposition of high import duties on these items by the US has impacted exports of these products by Indian businesses. The US move is also not in compliance with global trade norms.

Besides India, Russia, Norway, Canada, Mexico, Switzerland, and European Union have dragged the US in the WTO on America's move to impose 25 percent and 10 percent import duties on certain steel and aluminium products, respectively, which has triggered global trade tensions.

"We have discussed the matter with all these countries. A common dispute panel could be formed on the matter," the official added.

India has a significant export interest to the US on the steel and aluminium sector. As per estimates, India exports steel and aluminium goods worth about $1.6 billion a year to America.

The US had imposed these duties on grounds of national security.

Biswajit Dhar, professor of economics at Jawaharlal Nehru University, said the US decision would not only impact India's export of these goods but would also affect global trade.

"The entire basis of the US action is based on its own perception of security threat issue. This cannot be a ground to impose these duties," Dhar said.

Some experts, however, said that dragging the US in the dispute over the issue is not in favour of India, as New Delhi has a trade surplus with America.

India's exports to the US in 2017-18 stood at about $48 billion, while imports were $26.7 billion.

Both the countries are also involved in several other disputes in the WTO. Those disputes are in the areas of poultry, export incentives, solar and steel.

In retaliation to the imposition of duties by the US, India has decided to increase customs duty on 29 American products such as almond, walnut, pulses and iron and steel items. The duties would come into effect from December 17.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-04-2025
Notification No. 24/2025-Customs
Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017

Date: 23-04-2025
Notification No. 28/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 17-04-2025
Notification No. 26/2025 – Customs (N.T.)
Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of rate of duty drawback of Gold jewellery and silver jewellery/articles

Date: 15-04-2025
Notification No. 24/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 08-04-2025
Notification No. 23/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 04-04-2025
NOTIFICATION No. 23/2025-Customs
Seeks to amend entry 515C of notification 50/2017-Customs

Date: 28-03-2025
Notification No. 17/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 27-03-2025
NOTIFICATION No. 11/2025–Central Tax
Seeks to notify Central Goods and Services Tax (Second Amendment) Rules 2025

Date: 13-03-2025
Notification No. 13/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 13-03-2025
Notification No. 10/2025 – Central Tax
Seeks to amend notification No. 02/2017-Central Tax.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001