BusinessIndia

India taken up imposition of high custom duty on steel, aluminium products issue with WTO

New Delhi, Jan 2 (IEBusiness) The United States has imposed global tariff on certain steel and aluminium products and India has taken up the issue at the World Trade Organisation as it considers these additional duties to be non-compliant with WTO provisions.

‘The United States has imposed global tariff of 25 per cent and 10 per cent in March, 2018 on certain steel and aluminium products, respectively, under Section 232 of US Trade Expansion Act of 1962. India took up this issue at World Trade Organisation(WTO) as it considers these additional duties to be non-compliant with WTO provisions,’ official sources said.

India has retaliated against the US by imposing additional customs duties on 29 items originating from the US under the provisions of WTO Safeguard Agreement.

India has also challenged these measures as inconsistent at the WTO level and asked the US to bring these measures to be consistent with WTO provisions.

A dispute settlement panel has been established by Dispute Settlement Body (DSB) on December 4, 2018 to adjudicate in the dispute, the sources added.

Source
Via UNI-India
Tags
Show More

IE Team

We are on a mission, driven by our mantra ‘Journalism of Truth’. Our vision is to bring real stories of India and Indians to the people of India living in India and around the world. Our commitment to journalism is to make India a global masterpiece in socio-economic progress by exposing corruption, communalism and crimes.

Leave a Reply

Back to top button
Close
Close

Adblock Detected

Please consider supporting us by disabling your ad blocker
%d bloggers like this: