India Weighs Retaliatory Customs Duties Against EU Amid Prolonged Steel Duty Dispute

India is considering imposing retaliatory customs duties under WTO norms due to the European Union's prolonged safeguard measures on steel. The EU extended these measures until 2026, affecting India's steel exports. Bilateral consultations have not resolved the issue, prompting India to explore further trade actions.

In the ongoing trade dispute with the European Union, India is contemplating the imposition of retaliatory customs duties. This move comes as discussions between the two regions have failed to resolve issues surrounding the EU's safeguard measures on certain steel products, which have now been extended until 2026.

The EU's decision, initially implemented in 2018 and reviewed twice, aims to protect its domestic steel industry but has significantly impacted India, a major steel exporter to Europe. Indian exports of iron and steel products to the EU surged to USD 6.64 billion in 2023-24 from 2022-23's USD 6.1 billion.

New Delhi argues that the EU's measures violate WTO's norms. Despite engaging in talks earlier this month, a mutual agreement remains elusive, leaving India with the option to propose retaliatory measures under WTO rules.

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