The new Delhi, July 5 (PTI) Indian decision to reserve the rights to impose retaliatory obligations on the US to store tariffs on the automatic part is the procedural step according to the WTO agreement and will not affect the ongoing negotiation on the proposed business pact between the two countries, said.
On Friday, India proposed depositing retaliation of the WTO (World Trade Organization) against the US over US tariffs on imports of automatic parts of the country in the name of measures.
The proposed suspension of concessions or other obligations would take the form of an increase in tariffs to selected products from the US, according to the notice that the WTO is sent to India.
“The WTO notification is an essential step towards reserving India’s right, in accordance with the provisions of the warranty agreement and does not assume the ongoing discussion, negotiations, negotiations on the completion of one or the subsequent tranhes of India-US Bilateral Business (BTA),” said the official PTI.
Both countries focused on closing the first phase of BTA in the autumn (September-October) this year. This agreement focuses on more than doubling a bilateral trade to $ 500 billion by 2030 from the current $ 191 billion.
Both India and the US are signatories of the WATO Agreement, which seizes a WTO member to suspend his customs concessions to another member who introduces measures to import it.
On March 26, 2025, the US announced 25 % of the AD Valor tariff on car imports and for certain parts of cars, including India under Section 232 of the 1974 trade expansion Act.
“India considered this to be a measure for protection and submitted a notice of consultation under the WTO agreement. Now, under the provisions of this Agreement, after the 30 -day consultation period, India announced that it reserves its right to suspend concessions of US equivalent exports to India, which is official that it is official. The development that is official, ”said it was official,” said it is official. ”
Before the first phase of India and the US, they negotiate to complete the temporary trade agreement before 9 July, which means the end of the 90 -day period of suspension of trumps stored in dozens of countries, including India.
US President Donald Trump reportedly stated on Friday that he had signed tariff letters to 10-12 countries to inform them of import obligations that would be selected for different products, and they would be sent on Monday.
Meanwhile, sources stated that there were uncertainty about the announcement of a temporary trade agreement between India and the US before 9 July.
India does not borrow any trade agreement on the basis of deadlines and accepts the proposed business agreement with the US only when it is fully completed, properly concluded and in the national interest, said Trade Minister Piyush Goyal on Friday.
FTA is only possible when both sides are beneficial and it should be a mutually advantageous agreement, he said.
(Tagstotranslate) India
