Commerce and Industry Minister Suresh Prabhu to sort out aluminium, steel tariffs issue

Commerce and Industry Minister Suresh Prabhu to sort out aluminium, steel tariffs issue
26/05/2018 , by , in ALLIED

Commerce and Industry Minister Suresh Prabhu will meet US Trade Representative Robert Lighthizer during his US visit from June 10 to 14. They are expected to look for a mutually acceptable solution to the contentious issue of the additional levies.

It would be a high-level bilateral talks which is to sort out the issue of additional import duties announced by Washington on steel and aluminium products from India and the retaliatory action planned by New Delhi.

India is expecting a positive response on the return and hoping that the both countries don’t end up imposing additional tariffs.

US’ announcement of import duties of 25 per cent and 10 per cent on imports of steel and aluminium products from India created a tension between the countries and in response New Delhi threatened to impose additional duties of 5 per cent to 50 per cent on 20 items imported from the US, including almonds and motor cycles.

India also lodged a dispute at the WTO against the US. India stated that the additional duties on steel and aluminium announced by it are inconsistent with provisions of the WTO’s Agreement on Safeguards and General Agreement on Tariffs and Trade (GATT).

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