(MENAFN- KNN India) Imposition of high custom duty on steel and aluminium products
New Delhi, Jan 1 (KNN)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.
The move comes in effect when United States imposed global tariff of 25% and 10% 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 Organization (WTO) as it considers these additional duties to be non-compliant with WTO provisions.
This information was given by the Minister of State of Commerce and Industry, C. R. Chaudhary, in a written reply in the Lok Sabha.
India has also challenged these measures as inconsistent at the WTO level and asked US to bring these measures to be consistent with WTO provisions.
A dispute settlement panel has been established by DSB on 4th December, 2018 to adjudicate in the dispute.
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