India plans to implement retaliatory tariffs against EU's steel tariffs, causing a $4.4B trade loss for India.

India plans to implement retaliatory tariffs against the European Union's steel tariffs, which have been in effect since 2018 and extended to 2026. These tariffs have caused a trade loss of approximately $4.4 billion for India and generated $1.1 billion in duties for the EU. India aims to adjust specific products and rates and will notify the World Trade Organization of its actions. This comes as India's steel exports to the EU account for nearly 6% of its total output.

September 20, 2024
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