Latest news with #Safeguards
Time of India
14 hours ago
- Business
- Time of India
India proposes retaliatory tariffs Against US Over Auto Duties at WTO
India on Friday proposed retaliatory tariffs against the US under the World Trade Organization (WTO) norms over latest American tariffs on automobile imports in the guise of safeguard measures. "The safeguard measures would affect $2.895 billion imports annually into the US of the relevant products originating in India, on which the duty collection would be $723.75 million," New Delhi told the WTO. Last month, India sought consultations with the US after Washington adopted a measure in the form of a 25% tariff increase ad valorem on imports of passenger vehicles and light trucks, as well as certain auto parts originating in or from India. India said its proposed suspension of concessions or other obligations would be in the form of higher tariffs on selected products originating in the US. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the US," it said. "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India." The US imported $89 billion worth of auto parts globally last year, with Mexico accounting for $36 billion, China at $10.1 billion, and India at only $2.2 billion. This is the second instance of New Delhi proposing retaliatory tariffs on US goods. In May, India proposed to levy retaliatory duties on certain American products under the WTO to counter US tariffs on steel and aluminium in the guise of safeguard measures. At the time, New Delhi told the WTO that these measures would affect $7.6 billion imports into the US. On March 26, the US adopted a safeguard measure in the form of a tariff increase of 25% ad valorem on imports of passenger vehicles and light trucks, and on certain auto parts from India. These measures were effective May 3 for auto parts, and for an unlimited duration. The steps are still to be notified by the US to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the US are not consistent with the General Agreement on Trade and Tariff 1994 and the agreement on Safeguards. As consultations sought by India on these tariffs are still to happen, New Delhi said it reserves right to suspend concessions or other obligations to the US in the meantime.
NDTV
21 hours ago
- Business
- NDTV
At WTO, India Proposes Retaliatory Duties Against US Aver Auto Tariffs
New Delhi: India on Friday proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs imports on the country's auto parts in the name of safeguard measures. "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the United States," according to a notification of the WTO being circulated at the request of India. India has notified the WTO's Council for Trade in Goods of its proposed suspension of concessions and other obligations under certain WTO provisions. "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India," it said. On March 26 this year, the US adopted a safeguard 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 from India. These measures apply from May 3, 2025 as regards automobile parts, and for an unlimited duration. The measures have not been notified by the United States to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the United States are not consistent with the GATT (General Agreement on Trade and Tariff) 1994 and the agreement on Safeguards. As consultations sought by India on these tariffs have not taken place, "India reserves the right to suspend concessions or other obligations", the WTO notification added. The safeguard measures would affect USD 2,895 million imports annually into the United States of the relevant products originating in India, on which the duty collection would be USD 723.75 million. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the United States," it said. To ensure the effective exercise of its right to suspend substantially equivalent concessions or other obligations, the multinational body said, India has reserved its right to adjust the products as well as the tariff rates. "India reserves the right to withdraw, modify, supplement or replace this notification,and/or make a further notification or notifications as and when required," it added. The development is important as India and the US are actively negotiating an interim trade agreement to boost trade ties. India has last month taken similar measures against the US tariffs on steel and aluminium. Commenting on India's decision to reserve rights, think tank Global Trade Research Initiative (GTRI) said India's WTO notification is a legal and strategic step, signalling its readiness to retaliate against the US safeguard duties on automobiles and parts. By invoking a provision of the WTO's Safeguards Agreement, India is asserting its rights under international trade rules. "The proposed retaliation -- tariff hikes on US goods worth over USD 700 million -- is proportionate to the injury caused. However, whether India will follow through remains uncertain," GTRI Founder Ajay Srivastava said. He added that in a similar case involving US steel tariffs, India held back. Given the sensitive timing of the India-US trade deal and broader geopolitical considerations, this may be more of a warning shot than a guaranteed action, he said.
Time of India
a day ago
- Business
- Time of India
India proposes retaliatory tariffs against US' auto duties at WTO
New Delhi: India on Friday proposed retaliatory tariffs against the US under the World Trade Organisation ( WTO ) norms over American tariffs on automobile sector in the name of safeguard measures. 'The safeguard measures would affect $2.895 billion imports annually into the US of the relevant products originating in India, on which the duty collection would be $723.75 million,' India told the WTO. The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the US. 'Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the United States," it said. Last month, India sought consultations with the US after Washington adopted a measure in the form of a tariff increase of 25% ad valorem on imports of passenger vehicles and light trucks, and certain automobile parts originating in or from India. Live Events The US imported $89 billion worth of auto parts globally last year, with Mexico accounting for $36 billion, China for $10.1 billion, and India for just $2.2 billion. This is the second case where New Delhi has proposed retaliatory tariffs on American goods. In May, India had proposed to impose retaliatory duties on certain American products under the WTO to counter the American tariffs on steel and aluminium in the name of safeguard measures. New Delhi told the WTO that these measures would affect $7.6 billion imports into the US. 'This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India,' India said Friday. On March 26 this year, the US adopted a safeguard measure in the form of a tariff increase of 25% ad valorem on imports of passenger vehicles and light trucks, and on certain automobile parts from India. These measures apply from May 3, 2025 as regards automobile parts, and for an unlimited duration. The measures have not been notified by the US to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the United States are not consistent with the General Agreement on Trade and Tariff 1994 and the agreement on Safeguards. As consultations sought by India on these tariffs have not taken place, India said it reserves the right to suspend concessions or other obligations. The development assumes significance as India and the US are negotiating a trade agreement, which is expected to be announced ahead of the July 9 deadline when the the 90-day pause period for Washington's retaliatory tariffs comes to an end.
Time of India
a day ago
- Business
- Time of India
At WTO, India proposes retaliatory duties against US over auto tariffs
New Delhi: India on Friday proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on automobile sector in the name of safeguard measures . "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the United States," according to a notification of the WTO being circulated at the request of India. India has notified the WTO's Council for Trade in Goods of its proposed suspension of concessions and other obligations under certain WTO provisions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Sit Down Before You See What He Looks Like Now 33 Bridges Undo "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India," it said. On March 26 this year, the US adopted a safeguard 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 from India. Live Events These measures apply from May 3, 2025 as regards automobile parts, and for an unlimited duration. The measures have not been notified by the United States to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the United States are not consistent with the GATT (General Agreement on Trade and Tariff) 1994 and the agreement on Safeguards. As consultations sought by India on these tariffs have not taken place, "India reserves the right to suspend concessions or other obligations", it added. The safeguard measures would affect USD 2,895 million imports annually into the United States of the relevant products originating in India, on which the duty collection would be USD 723.75 million. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the United States," it said. The development is important as India and the US are actively negotiating an interim trade agreement to boost trade ties. India has last month taken similar measures against the US tariffs on steel and aluminium.
The Hindu
a day ago
- Business
- The Hindu
At WTO, India proposes retaliatory duties against U.S. over auto tariffs
India on Friday (July 4, 2025) proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the U.S. over American tariffs on automobile sector in the name of safeguard measures. "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the United States," according to a notification of the WTO being circulated at the request of India. Also read: Trump says 'very big' trade deal coming up with India India has notified the WTO's Council for Trade in Goods of its proposed suspension of concessions and other obligations under certain WTO provisions. "This notification is made in connection with safeguard measures extended by the United States of America on imports of automobile parts from India," it said. On March 26 this year, the U.S. adopted a safeguard measure in the form of a tariff increase of 25% ad valorem on imports of passenger vehicles and light trucks, and on certain automobile parts from India. These measures apply from May 3, 2025 as regards automobile parts, and for an unlimited duration. The measures have not been notified by the United States to the WTO, but are, in essence, safeguard measures. India has maintained that the measures taken by the United States are not consistent with the GATT (General Agreement on Trade and Tariff) 1994 and the agreement on Safeguards. As consultations sought by India on these tariffs have not taken place, "India reserves the right to suspend concessions or other obligations", it added. The safeguard measures would affect $2,895 million imports annually into the United States of the relevant products originating in India, on which the duty collection would be $723.75 million. "Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the United States," it said. The development is important as India and the U.S. are actively negotiating an interim trade agreement to boost trade ties. India has last month taken similar measures against the U.S. tariffs on steel and aluminium.
