Representatives of Indian and United states
governments will meet in Geneva next week to resolve the trade dispute over
Washington levying high import duties on steel and aluminimum. The meeting will
be held under auspices of the World Trade Organizationís dispute settlement
mechanism. India has moved the WTO over the levy by United States.
A high level delegation from the commerce
ministry will represent the country for the talks. United states is holding the
consultations with all the countries that have filed disputes on the issue in
Geneva on July 19-20.
Several countries including India, Norway, China,
and Russia have filed disputes on the subject against the US. Two months ago,
India dragged the US to the WTO dispute settlement mechanism over the imposition
of import duties on steel and aluminium.
India has stated that the decision would impact
exports of these products to the US and it is not in compliance with global
Seeking consultation is the first step of the
dispute settlement process.
The US has imposed 25 percent tariff on steel and
a 10 percent tariff on aluminium. India's exports of steel and aluminium
products to America stood at about1.5 billion US Dollars every year.
Both the countries are already involved in
disputes at the global trade body. The disputes are in the areas of poultry,
solar, export subsidies and steel.
India's exports to the US stood at 47.9 billion
USA dollars in 2017-18, while imports aggregated at 26.7 billion US Dollars
during the same fiscal.