India may impose retaliatory tariffs on America, considering action against steel duty

After America's decision to impose a duty on steel, India is also planning to propose the imposition of tariffs on American goods. India has notified the proposal to the World Trade Organization (WTO). America is charging duty on the export of Indian steel and aluminum.

India has said in a notice to the World Trade Organization on Monday that India can increase import duty on some American products by ending the exemption. India says that this is a step taken in its defense. India says that the imposition of duty on steel and aluminum products by America has affected its exports of about $ 7.6 billion. US President Donald Trump continued his protectionist approach after coming to power this year and announced tariffs on many countries of the world. During his previous tenure too, Trump had imposed tariffs on steel and aluminium under the guise of national security.

India is the second largest producer of raw steel in the world. In such a situation, the tariffs imposed by Trump on steel and aluminium have had a major impact on India's exports. Now the way India has proposed to impose tariffs on some US products has raised the possibility of increasing trade tensions between the two countries. It is worth noting that this development has come to light at a time when a new trade agreement is close to being reached between India and the US.