India to hold consultations next week in Geneva with US; aims to settle dispute on steel, aluminium

Geneva, July 10: India and the US will hold consultations next week in Geneva to deliberate upon the case filed by New Delhi in the World Trade Organization's (WTO) dispute settlement mechanism over the imposition of high import duties on steel and aluminium by Washington.

 

Official sources said in New Deli today that a team of senior officials from the commerce ministry will lead the team to Geneva on July 19-20. The US is holding the consultations with several countries including India, Norway, China and Russia who have filed disputes on the subject against the US.

In May, India dragged the US to the WTO dispute settlement mechanism over the imposition of import duties on steel and aluminium. India has stated that the decision would impact exports of these products to the US and it is not in compliance with global trade norms.

India may request for a WTO dispute settlement panel to review the matter.The US has imposed 25 percent tariff on steel and a 10 percent tariff on aluminium.

India's exports of steel and aluminium products to America stood at about $1.5 billion every year.Both the countries are already involved in disputes at the global trade body. The disputes are in the areas of poultry, solar, export subsidies, and steel.