INSUBCONTINENT EXCLUSIVE:
Illustration: Binay Sinha3 min read Last Updated : Sep 21 2024 | 12:35 AM IST
India informed the World Trade Organisation (WTO) that it
extended till June 2026.
The move comes after bilateral engagements with the trade bloc had failed earlier this year.
While India did
to the tune of $4.412 billion on which the duty collection would be $1.103 billion
Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in
safeguard measure on imports of certain steel products was first imposed in 2018 on 26 varieties of steel.
The safeguard measure took the
EU extended safeguard duties on steel imports till June 2026.
Under the WTO rules, such safeguard measures cannot be put in place for a
maximum of eight years, which in this case is till June 2026.
India has been opposing the extension of steel tariffs
They have been holding bilateral consultations with the EU to argue that the measures were already judged as being inconsistent with the WTO
impose an equivalent amount of duty on the goods originating from the EUFirst Published: Sep 20 2024 | 9:19 PMIST
