Brief by Shorts91 NewsDesk / 06:37am on 13 May 2025,Tuesday Business
India is considering imposing import duties on select U.S. products in response to Washington's tariffs on steel and aluminium imports, according to a document submitted to the World Trade Organization (WTO) on May 12, 2025. The U.S. initially introduced these tariffs, including a 25% levy on steel, in 2018 under President Donald Trump's administration, which have since been extended. India, the world's second-largest crude steel producer, stated that these U.S. measures affect $7.6 billion worth of Indian exports. In retaliation, India is planning targeted tariff increases on unspecified U.S. products. Additionally, the U.S. has threatened to impose 26% reciprocal tariffs on Indian goods. Amid ongoing trade negotiations, New Delhi has offered to reduce the tariff disparity with the U.S. by two-thirds. The dispute unfolds as India also imposed a 12% temporary tariff on steel imports, primarily targeting cheap imports from China, to support its domestic industry. Simultaneously, India is pursuing trade talks with various partners to boost access for its steel exports. (PC: The Statesman & Reuters)
