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Bloomberg Quint

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India Doubles Proposed Retaliatory Duties On Steel, Aluminium Against US At WTO

  • India has doubled its proposed retaliatory duties against the US at the World Trade Organization in response to increased tariffs on steel and aluminium by the Trump administration.
  • India's move aims to recover about $3.8 billion in duties, doubling its proposed duties after the US doubled its tariffs to 50% in June.
  • This posturing at the WTO coincides with fresh negotiations for a bilateral trade agreement between India and the US, with a tariff pause date now set for August 1.
  • The first rounds of negotiations did not result in a deal by the July 9 deadline, and both sides are now looking to reach an agreement within the next 20 days.

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