India on Monday informed the World Trade Organization (WTO) that it will impose $1.91 billion of levies on imports from the US in retaliation against Trump’s move but left a 30-day window for talks, showed a communication from New Delhi to the global trade body. The people cited above said American goods that could attract…
India and the US are gearing up for the second round of face-to-face talks on the agreement in Washington, with the Indian side led by its chief negotiator Rajesh Agarwal. âThis issue is part of Indiaâs agenda note for the talks,” said one of the two persons cited above. These duties, in effect since 12…
Almost 46 years after former British Prime Minister Margaret Thatcher privatized British Petroleum and embarked on a spate of privatizations, including British Airways, British Telecom and British Steel, during the 1980s and 1990s, the UK Parliament set the clock back. In an emergency session late last week, it passed a law allowing the government to…
When the going gets tough, the tough get going, and thatâs what Tata Steel Ltd is doing. Last week, Tata Steel Nederland announced a crucial transformation programme aimed mainly at reducing costs in the backdrop of tightening spreads in the European steel market. High energy and carbon costs in recent years have put steel spot…
The UK passed an emergency law on Saturday to stop the last British factory that can make steel from scratch shutting down, allowing the government to take control of the struggling Chinese-owned British Steel plant. The site in northern England had faced imminent closure and Prime Minister Keir Starmer said urgent action was needed to…
Never mind that applying selective tariffs violates the Most Favoured Nation (MFN) rules of the World Trade Organization (WTO). If someone raises an objection, WTOâs dispute resolution mechanism is expected to deal with it. But that mechanism is broken partly because the US has blocked appointments to its appellate body. If pushed further, it is…
The government is proactive in safeguarding the interests of Indian exporters amid global trade challenges, according to Jitin Prasada, Union minister of state for commerce & industry. The government is strategizing to address potential hurdles arising from protectionist trade policies of other countries, Prasada said speaking at an event organised by the Engineering Export Promotion…
If you want to reduce international trade and foreign relations to chest-beating displays of dominance, sooner or later youâre going to end up fighting about steel. Hard, unbending, corrosion-resistant and essential to making macho artefacts like skyscrapers, cars and armaments, the metal is associated with images of strength. US President Donald Trump echoed that imagery…
A lobby of Indian steelmakers has urged the Indian government to step in after US President Donald Trump announced plans to levy additional duty on steel and aluminium imported into the country. The Indian Steel Association (ISA) âurges the Government of India to take urgent diplomatic action to push for the removal of longstandingâ anti-dumping…
Although Indian officials are pushing for a similar negotiating arrangement with the UK, the British have not yet agreed to this request, the people cited above said. Negotiations on the Carbon Border Adjustment Mechanism (CBAM)âwhich proposes taxing imports of carbon-intensive products such as iron and steel, cement, aluminium and fertilizerâwere earlier kept out of the…
