Latest news with #GATT


The Print
a day ago
- Business
- The Print
India seeks WTO consultations with US over safeguard measures on auto components
On March 26, 2025, the US adopted a measure in the form of a tariff increase of 25 per cent ad valorem on imports of passenger vehicles and light trucks, and on certain automobile parts originating in or from India, a communication sent by India to WTO said. This move comes shortly after India reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and aluminium. New Delhi, Jun 3 (PTI) India on Tuesday sought consultations with the US under the World Trade Organisation's (WTO) safeguard agreement over American tariffs on auto components. The measure on automobile parts applies from May 3, 2025 and for an unlimited duration. 'India considers that the measure, in its design and effect, constitutes a safeguard measure within the meaning of…. GATT (General Agreement on Trade and Tariff) 1994 and the Agreement on Safeguards, as it is intended to protect the US domestic industry from increased imports,' it said. It added that the United States failed to notify the WTO Committee on safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply the safeguard measure. 'Accordingly, as an affected Member with significant export interest to the United States in the products concerned, India requests consultations with the United States,' it said. In the consultations, India would like to exchange views on the measure. 'India looks forward to receiving a prompt reply to this request from the United States and to setting a mutually convenient date and venue for the… consultations,' it said. India reserves all its rights under the agreement establishing the WTO. The US imported USD 89 billion worth of auto parts globally last year, with Mexico accounting for USD 36 billion, China for USD 10.1 billion, and India for just USD 2.2 billion. PTI RR DR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.


Time of India
2 days ago
- Automotive
- Time of India
India seeks WTO consultations with US over tariffs on auto components
India has formally requested consultations with the United States under the World Trade Organisation's ( WTO ) Agreement on Safeguards, challenging a recent US decision to impose 25 per cent ad valorem tariffs on certain automobile components and vehicles imported from India, PTI reports. According to a communication sent by India to the WTO on Tuesday, the tariffs—effective May 3, 2025, and applicable for an unlimited duration—are part of a broader US move targeting imports of passenger vehicles, light trucks, and automobile parts from select trading partners. India Flags Safeguard Violations India contends that the US measure qualifies as a safeguard measure under the General Agreement on Tariffs and Trade (GATT) 1994 and the Agreement on Safeguards, as it aims to protect the US domestic auto industry from increased imports. The communication highlights that the US failed to notify the WTO Committee on Safeguards, violating the procedural obligations under WTO rules. "India considers that the measure, in its design and effect, constitutes a safeguard measure... intended to protect the US domestic industry from increased imports," the communication stated. Consultations Sought for Dispute Resolution India has requested formal consultations with the US to exchange views and resolve the issue. It also emphasised its significant export interest in the affected products and expressed the need for prompt engagement to schedule discussions. 'India looks forward to receiving a prompt reply... and to setting a mutually convenient date and venue for the consultations,' the note said. India also reiterated that it reserves all its rights under the WTO framework. Context: Rising Trade Tensions The move comes shortly after India reserved the right to impose retaliatory duties on selected US products in response to American tariffs on steel and aluminium. The WTO filing signals India's increasing readiness to push back against protectionist trade policies through legal mechanisms. In 2024, the US imported $89 billion worth of auto parts, with: -Mexico accounting for $36 billion -China for $10.1 billion -India contributing $2.2 billion While India's share is comparatively small, the new tariffs could have a disproportionate impact on key Indian exporters in the automotive supply chain. India's challenge at the WTO marks a critical moment in its trade relationship with the US, as it seeks to protect its export interests and uphold multilateral trade norms. The outcome of these consultations could have broader implications for global automotive trade and WTO safeguard disciplines. (Source- PTI)


Time of India
2 days ago
- Business
- Time of India
India invokes WTO mechanism to address US safeguard duties on auto components
India has formally requested consultations with the United States under the World Trade Organisation's (WTO) Agreement on Safeguards, challenging recent American tariffs imposed on automobile parts. The move follows India's earlier decision to reserve the right to impose retaliatory duties on select US goods in response to Washington's tariffs on steel and aluminium. According to a communication sent by India to the WTO, the US on March 26, 2025, adopted a measure increasing tariffs by 25 per cent ad valorem on imports of passenger vehicles, light trucks, and certain auto components originating in or from India. These duties came into effect on May 3, 2025, and have been applied for an indefinite period, PTI reported. "India considers that the measure, in its design and effect, constitutes a safeguard measure within the meaning of... GATT (General Agreement on Tariffs and Trade) 1994 and the Agreement on Safeguards, as it is intended to protect the US domestic industry from increased imports," the communication stated. India further noted that the United States failed to notify the WTO Committee on Safeguards about the decision to apply such measures, as required under the provisions of the Agreement on Safeguards (AoS). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo "Accordingly, as an affected Member with significant export interest to the United States in the products concerned, India requests consultations with the United States," the communication added. India said it seeks to exchange views on the measure and its implications during the consultations. "India looks forward to receiving a prompt reply to this request from the United States and to setting a mutually convenient date and venue for the... consultations," it said. India also reserved all its rights under the agreement establishing the WTO. In 2024, the United States imported auto parts worth USD 89 billion globally. Mexico was the top supplier at USD 36 billion, followed by China at USD 10.1 billion. India accounted for USD 2.2 billion of those imports. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Time of India
2 days ago
- Business
- Time of India
India seeks WTO consultations with US over safeguard measures on auto components
India has initiated discussions with the United States under the World Trade Organisation. This concerns American tariffs imposed on auto components. The move follows India's reservation to impose retaliatory duties on select US products. This is in response to US tariffs on steel and aluminium. India considers the US tariff increase a safeguard measure. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India on Tuesday sought consultations with the US under the World Trade Organisation's (WTO) safeguard agreement over American tariffs on auto move comes shortly after India reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and March 26, 2025, the US adopted a measure in the form of a tariff increase of 25 per cent ad valorem on imports of passenger vehicles and light trucks, and on certain automobile parts originating in or from India, a communication sent by India to WTO measure on automobile parts applies from May 3, 2025 and for an unlimited duration."India considers that the measure, in its design and effect, constitutes a safeguard measure within the meaning of.... GATT (General Agreement on Trade and Tariff) 1994 and the Agreement on Safeguards, as it is intended to protect the US domestic industry from increased imports," it added that the United States failed to notify the WTO Committee on safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply the safeguard measure."Accordingly, as an affected Member with significant export interest to the United States in the products concerned, India requests consultations with the United States," it the consultations, India would like to exchange views on the measure."India looks forward to receiving a prompt reply to this request from the United States and to setting a mutually convenient date and venue for the... consultations," it reserves all its rights under the agreement establishing the US imported USD 89 billion worth of auto parts globally last year, with Mexico accounting for USD 36 billion, China for USD 10.1 billion, and India for just USD 2.2 billion.


Mint
2 days ago
- Business
- Mint
India seeks WTO consultations with US over safeguard measures on auto components
New Delhi, Jun 3 (PTI) India on Tuesday sought consultations with the US under the World Trade Organisation's (WTO) safeguard agreement over American tariffs on auto components. This move comes shortly after India reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and aluminium. On March 26, 2025, the US adopted a measure in the form of a tariff increase of 25 per cent ad valorem on imports of passenger vehicles and light trucks, and on certain automobile parts originating in or from India, a communication sent by India to WTO said. The measure on automobile parts applies from May 3, 2025 and for an unlimited duration. "India considers that the measure, in its design and effect, constitutes a safeguard measure within the meaning of.... GATT (General Agreement on Trade and Tariff) 1994 and the Agreement on Safeguards, as it is intended to protect the US domestic industry from increased imports," it said. It added that the United States failed to notify the WTO Committee on safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply the safeguard measure. "Accordingly, as an affected Member with significant export interest to the United States in the products concerned, India requests consultations with the United States," it said. In the consultations, India would like to exchange views on the measure. "India looks forward to receiving a prompt reply to this request from the United States and to setting a mutually convenient date and venue for the... consultations," it said. India reserves all its rights under the agreement establishing the WTO. The US imported USD 89 billion worth of auto parts globally last year, with Mexico accounting for USD 36 billion, China for USD 10.1 billion, and India for just USD 2.2 billion.