Russian Federation demands compensation over U.S. steel & aluminum tariffs


However, these tariffs will be waived until May 1 on products from Canada, Mexico, the European Union, Australia, Argentina, Brazil and South Korea.

The EU also claimed that Washington failed to notify the WTO committee on safeguards about its decision to apply the measures, and that these measures do no comply with relevant provisions of the agreement on safeguards.

"We have asked for consultations on the measures introduced by the United States", he said adding that it concerns the duties the USA had imposed on imports of steel and aluminum.

After failing to get an exemption on tariff hikes by the Donald Trump administration, India on Tuesday raised the issue of U.S. imposing higher tariffs on certain steel items at the committee of safeguards of the World Trade Organisation (WTO) seeking consultation.

USA steel and aluminium tariffs are already distorting global trade and could undermine the world economic recovery, the EU's top trade official Cecilia Malmstroem warned Wednesday.

"In accordance with Article 12.3 read with Article 8.1 of the Agreement on Safeguards, India seeks to exercise its right to consult on the specifics of the measures and its right to determine appropriate trade compensation with the United States", the submission added.

"The move would help create a pressure on the U.S. as other member countries may join India in this".

Malmstroem said the European Union expected nothing less than to be permanently excluded from the United States tariffs when the bloc's temporary exemption expires next month.

As per estimates, India exports steel and aluminium goods worth about Dollars 1.6 billion a year to America.

India's stand is that it in no way deserves to be saddled with the 10-per cent higher import duty on aluminium and 25 per cent on steel as it neither poses a security threat to the U.S. nor has it remained unresponsive to the bilateral trade imbalance.