India has taken steps to impose retaliatory tariffs at the World Trade Organization (WTO) against US tariffs on steel and aluminum products. The new tariff plan will cover certain American products. According to the WTO, the US measures are reflected in an estimated USD 1.91 billion in additional duty collections on India's USD 7.6 billion worth of exports.
India stated that the US tariffs are in violation of the 1994 General Agreement on Trade and Tariffs (GATT) and the Agreement on Safeguards (AoS), while Washington argues that the tariffs are imposed on national security grounds and should not be considered as safeguard measures.
In addition to the WTO notification, India also announced that it is close to finalizing a new bilateral trade agreement with the Trump administration.
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