Core Viewpoint - India and Japan have notified the World Trade Organization (WTO) that they reserve the right to suspend concessions due to the U.S. steel and aluminum tariffs, which they claim violate WTO rules [1] Group 1: U.S. Tariffs and WTO Compliance - The U.S. has imposed tariffs on imported steel and aluminum since March 2018 without notifying the WTO, which is against the General Agreement on Tariffs and Trade (GATT) and the Safeguards Agreement [1] - Both India and Japan are invoking their rights under the Safeguards Agreement to suspend concessions, which will be implemented through additional tariffs on certain U.S. products [1] Group 2: Impact on India and Japan - India estimates that the U.S. measures will affect Indian products worth $7.6 billion, leading to a tariff amount of $1.91 billion [1] - India plans to impose equivalent tariffs on certain U.S. products in response to the U.S. tariffs [1] - Japan's countermeasures will target U.S. tariffs on complete automobiles and parts, with details and effective dates to be communicated to the WTO before implementation [1] Group 3: Broader Reactions - The U.S. steel and aluminum tariffs have faced criticism and dissatisfaction from multiple parties, including the European Union and the United Kingdom, which have also notified the WTO of their rights to suspend concessions [1]
印度和日本向世贸组织通报保留对美部分产品加征关税权利
news flash·2025-05-16 12:09