Tuesday, 9 December 2014

India Gets WTO Relief Order On US Steel Duty

India received relief order from the WTO as it ruled against the US which had imposed high duty on imports of certain steel products from India.

The World body ruled that the US duties were in breach of WTO rules and it asked the United States to bring its rules into line. The Appellate body also said that the duty imposed by the US on the Indian steel products is "inconsistent" with its Agreement on Subsidies and Countervailing Measures.

In one of the most complicated appeals decisions ever handled by the 19-year-old trade watchdog, the Appellate Body reversed much of a ruling by a three-person panel in July, which said the US duties had wrongly penalized India for subsidizing steel exports from Tata Steel.



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