India’s strong response to US trade taxes through WTO policy.
India has taken action against US auto tariffs through WTO. In this, India has talked about imposing retaliatory duties on goods worth ₹ 2.9 billion. Know what is the whole matter.
Introduction
The trade relation between India and the US has always been strong, but sometimes problems also arise. Now India has taken a strong step. This is connected with India Retaliatory Auto Tariffs WTO. India has taken this decision under the rules of WTO (World Trade Organization).
What is the whole matter?
The US had imposed high tariff on some auto parts and steel products exported from India. This caused loss to India’s business. India waited for a long time, but when the matter did not work out, India also responded.
India has now decided under the India Retaliatory Auto Tariffs WTO step that it will also impose tax on US products worth ₹2.9 billion. Its main target is auto parts and some luxury items.
India’s response under WTO–
India has taken this action as per WTO rules. WTO was created to give equal treatment to all countries. When a country unfairly taxes another country, WTO allows the victim country to retaliate.
India informed WTO that it is imposing tax on Retaliatory Auto Tariffs under WTO rules. Its sole purpose is to maintain fair trade.
What items will be taxed?
The list that India has now given mainly includes auto parts, luxury bikes, almonds, apples, and some industrial items exported to the US. India wants the US to understand that fair trade is important.
What will happen between the two countries?
Now we have to see what the US does after this step. It is possible that both countries sit together and find a new solution. The WTO rule is that first there should be a discussion, then strong action should be taken. India had already tried.
Conclusion–
India Retaliatory Auto Tariffs WTO is a strong message that India will not sit silent against unfair trade. Whenever India feels that it is being harmed, it will take action under the rules of WTO.
This step has also given the message to the world that India is serious about global trade and wants fair play. It is hoped that in the coming days, US and India will solve this matter peacefully.
