India proposes retaliatory duties worth $1.1 bn against EU’s steel curbs
safeguard duties on its steel imports and has begun an exercise to firm up the list of items.
“We are working on the products that would be subject to higher tariffs. These will mostly be steel products,” an official told ET.
The two sides failed to reach an agreement on the concessions that the EU can offer India to mitigate the adverse impact of the safeguard duties it levies on some steel imports, which it extended by two years till 2026.
New Delhi, Wednesday, informed the World Trade Organization (WTO) about its intent.
“The issue could be taken up at the next round of bilateral free trade talks with the EU next week,” said another official.
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