India’s Retaliatory Tariffs on U.S. Steel and Aluminum: A Trade War in the Making

India’s Retaliatory Tariffs on U.S. Steel and Aluminum: A Trade War in the Making

The Story So Far

India has notified the World Trade Organization (WTO) of its intention to impose tariffs on $7.6 billion worth of imports from the United States, in response to the U.S. imposing 25% tariffs on steel and aluminum imports earlier in March. The move is expected to generate $1.91 billion in duties, mirroring the impact of the U.S. tariffs on India’s exports of steel and aluminum. The retaliatory measures, which are set to take effect on May 9, come just days before the two countries announced progress on the first tranche of their bilateral trade agreement.

Recent Developments in Trade Relations

U.S. President Donald Trump reinstated 25% tariffs on all steel and aluminum imports in March, alongside removing all country and product-specific exemptions. He argued the move was intended to protect domestic industries, which he claimed were

Leave a Comment