India keen to join Russia in WTO case against US on metal tariffs

Live Mint
July 17, 2018


Seeking consultation under the aegis of the WTO is the first step of the dispute settlement process.

India has expressed its willingness join the World Trade Organisation (WTO) dispute consultation requested by Russia as a third party against the US decision to impose high duties on certain steel and aluminium imports.

In a communication to the WTO, India has stated that it has substantial trade interests in the sector.

In May, India dragged the US to the WTO’s dispute settlement mechanism over the imposition of these import duties.

“India hereby notifies its desire to join consultations requested by the government of the Russian Federation... concerning the measures that the US introduced to adjust imports of steel and aluminium into the US, including imposing additional ad valorem import duties on certain steel and aluminium products and exempting certain WTO members from these measures,” the WTO said.

To understand the developments on the issue, India is joining the dispute cases on the subject as a third party member. India has also stated that it is a significant exporter of steel and aluminium products to the US. In 2017, India was the 10th largest exporter of steel to America, according to data published by the US Department of Commerce.

“As a result of this substantial trade interest, India respectfully requests that it be permitted to join consultations in this dispute,” it said.

Seeking consultation under the aegis of the WTO is the first step of the dispute settlement process. If the two nations are not able to reach a mutually agreed solution through consultation, the complainant may request for a WTO dispute settlement panel to review the matter.

Trump has imposed 25% tariff on steel and 10% on aluminium imports. India’s exports steel and aluminium products to America worth $1.5 billion every year.

India has also expressed its willingness join as a third party the WTO dispute consultation requested by Norway.

Comments

Post a Comment

Popular posts from this blog

India Joins Russia in Voting Against West-Backed Move to Expand Powers of OPCW

The Wire: June 28, 2018 New Delhi: India voted against a UK-backed move that will allow the global chemical weapons watchdog to apportion blame for illegal attacks, criticising the decision to grant “unchecked powers” to the head of the group which could be used for “partisan” purposes. On Wednesday, more than two-thirds of the member states of the Organisation for the Prohibition of Chemical Weapons (OPCW) voted to authorise the international body to identify the perpetrators and sponsors of a chemical weapons attack. It also specifically called on the OPCW’s technical secretariat to begin work on identifying the perpetrators behind the use of chemical weapons in Syria. The draft decision, sponsored by 30 countries, was adopted at the fourth special session of the conference of the states parties to the Chemical Weapons Convention at the Hague, with 82 in favour and 24 negative votes. While Europe, the United States and their allies voted ‘yes’, there was strong oppo...
Read more

As financial insecurity rises in urban India, so does investment in insurance

Image
Scroll.in March 13, 2020 Urban Indians are becoming less confident about their financial security. Up to 58% of them fret over financial independence post retirement, which is a 4% increase from last year. An equal share of urban Indians worry about meeting their daily medical expenses and sustaining their current lifestyle once they stop working. The findings are part of a survey published by Delhi-based Max Life Insurance in association with London-based consultancy Kantar. The firms surveyed 7,014 respondents in 25 cities, including six metros, nine tier-1 cities, and 10 tier-2 cities, between December 2019 and January 2020. Source: Max Life Insurance via Quartz The trends Source: Max Life Insurance via Quartz Source: Max Life Insurance via Quartz Source: Max Life Insurance via Quartz A significant share of urban Indians also say their families will have no financial support in the event of the breadwinner’s death. In such a scenario, around 57% believe the family sav...
Read more

ED tracks Swiss Bank A/Cs of Agusta scamster

The Poineer February 10,2019 Rakesh K Singh The Enforcement Directorate (ED) has tracked a dozen Swiss bank accounts in the name of Rajiv Saxena, who is key accused in the Rs 3,600 crore AgustaWestland VVIP chopper scam. The ED has also found out accounts held by  his family members and associates where the kickbacks in the now scrapped deal were allegedly parked. Two bank accounts are in the name of Rajiv Saxena’s  associates Pankaj Jain and Sumita Jain who are also the authorised signatories. The  third is in the name of another associate Ajit Singh Bubber, but Rajiv and his family members are authorised signatories. The remaining nine accounts are largely owned and operated by Rajiv, his family members and associates. Rajiv Saxena was deported by the UAE authorities on January 30 and the ED formally arrested him the next day and a court later granted his remand to the agency. He is currently undergoing custodial interrogation by the ED. The agency had in 2017...
Read more