The Indian government has officially informed the World Trade Organization (WTO) that it will put in place retaliatory tariffs on imports of select products from the US within the next one month, if the latter does not exempt Indian steel and aluminum exports from its recent tariffs, government officials said on Monday, May 21.
The officials said that the Indian government has formally informed the WTO’s Council for Trade in Goods that it will suspend all concessions on tariffs applicable for imports from the US and impose fresh tariffs ranging from five percent to 100 percent on a diverse range of US products including specific motorbikes and fruit products.
These new tariffs could be put in place within the next one month if the US government does not exempt India, just like Mexico and Canada, from its 25 percent tariff on steel imports and 10 percent tariff on aluminum imports.
The WTO has been informed that the size of tariff imposed by India on imports from the US will be commensurate to the amount of India's trade that will be affected by the tariffs on steel and aluminum imposed by the US, the officials said.