India's Strategic Trade Move: A Pragmatic Approach
India proposes retaliatory duties on select American products in response to US tariffs on steel and aluminum. This step, planned under WTO norms, is part of broader trade negotiations between the two nations aimed at boosting bilateral trade. India's approach mirrors past actions against the EU over steel safeguard measures.
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India is considering retaliatory duties on selected American products in response to US tariffs on steel and aluminum, an official stated ahead of crucial trade talks commencing on May 17. The move is under WTO norms, marking a pragmatic strategy to safeguard national interests.
Officials describe India's stance as neither unique nor novel, instead a measured response consistent with previous World Trade Organization (WTO) practices. Such actions are aimed at reinforcing India's negotiating position without opting for immediate retaliation.
Previously, India issued similar notifications to the WTO regarding the EU's steel safeguard measures in 2019 and 2021. As India and the US negotiate a bilateral trade agreement, the goal remains increasing commerce to USD 500 billion by 2030, from USD 191 billion.
(With inputs from agencies.)
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