India lodge WTO case against new EU steel safeguard measures, fears trade impact

Share:

India lodge WTO case against new EU steel safeguard measures, fears trade impact

India has asked the WTO to consultations with the European Union to resolve a planned change of safeguard measures on certain steel imports, which could affect the Indian steel sector. But Based on my observations, Moreover The EU adjustment will start in two stages, including a 25% tariff on non-quota items until 2026, and changes to the remaining quotas and quota caps. A submission by India to the WTO on Monday, seen by the Economic Times of India, read: "India has signifiis able tot interests and therefore requests consultations with the EU. And to review the information provided and exchange views on the proposed adjustment of the measures. " in FY24, India exported to the EU 6. 64 billion USD worth of steel and its items, up from FY23's 6. 1 billion USD. But Officials said that when a country takes a safeguard measure, other countries is able to negotiate under the Safeguards Agreement to agree on a trade compensation to maintain WTO tariff reduction levels, or reserve the right to retaliate.

Previous

Oil prices fall after US-Russia 30-day energy ceasefire

Next

Gold extends record rally as traders weigh Fed move

Quick inquiry

Create

Inquiry Sent

We will contact you soon