India Notifies WTO of Plan to Raise Tariffs in Response to US Steel Duties

India has informed the World Trade Organization (WTO) about its plan to raise tariffs on some US goods. This decision comes as a response to the higher tariffs that the United States placed on Indian steel and aluminum.

India wants to protect its industries and balance the trade situation after facing losses because of the US duties.

In 2018, the United States imposed additional tariffs on steel and aluminum imports from several countries, including India. This move hurt Indian steel producers, as their products became more expensive in the US market. In order to fight back, India has now decided to increase tariffs on certain goods imported from the US.

The Indian government has prepared a list of US products, including almonds, apples, and other agricultural goods, which will face higher taxes. Indian officials have shared this list with the WTO, following international trade rules. This gives other countries the opportunity to review India’s plan and voice any concerns. The move aims to balance the trade losses caused by the US duties on steel.

India’s decision to raise tariffs is meant to protect local industries and ensure that Indian businesses are not unfairly affected by the US tariffs. The government hopes the new tariffs will push the US to reconsider its duties on Indian steel and open the door for future discussions. India also wants to show that it will not let its economic interests be harmed without taking action.

The WTO is now expected to look at India’s plan. The US may also respond, and both countries might engage in discussions to resolve the issue. While India hopes to settle the matter through talks, it is ready to take further steps if needed.

This move highlights India’s commitment to defending its industries and using global trade rules to protect its economy. It also emphasizes India’s interest in fair trade practices and its desire to continue open dialogue with the United States. The situation will evolve as both countries explore solutions to the ongoing trade dispute.