Trade Tensions: India Weighs Retaliation over UK's Steel Safeguards

India is reconsidering tariff concessions on Scotch whisky given to the UK as part of the India-UK free trade agreement. This comes amid concerns over Britain's stricter steel safeguards. The trade deal, meant to enhance bilateral trade, faces hurdles, with both nations aiming to resolve disputes in upcoming talks.

India is poised to reassess tariff concessions on Scotch whisky granted to Britain under the existing trade deal if London doesn't address concerns regarding steel safeguard measures, an official indicated on Monday.

Following last year's signing of the India-UK free trade deal, progress has stalled due to Britain's proposed stringent measures on steel imports to protect its industry. An Indian trade official emphasized on Monday that the next steps now depend on Britain's actions, warning of potential reconsideration of tariff concessions.

As British Trade Secretary Peter Kyle prepares for discussions with Indian Commerce Minister Piyush Goyal, the deal's intended tariff reductions across various goods remain in limbo. India's objections highlight the potential impact of Britain's steel measures on Indian exports, casting uncertainty on the trade pact's future.