US import tariffs on steel, aluminium: India hits back, to suspend concessions on 30 products
Ships unload containers at the Jawaharlal Nehru Port. (Express Photo/Prashant Nadkar/File)
NEW DELHI: Responding to the US import tariffs on certain steel and aluminium products, India has decided to suspend concessions on 30 products being imported from the US. In a notification to the World Trade Organisation (WTO) on June 14, India emphasized that the tariffs will be substantially equivalent to the amount of trade affected due to the US’ measures. The products are likely to include motorcycles, certain iron and steel goods, boric acid and lentils.
“The proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the United States, based on the measures of the United States,” the notification read. “India wishes to clarify that suspension of concessions shall be equivalent to the amount of trade affected by the United States’ measures.”
Credit: indianexpress.com