India has informed the World Trade Organisation (WTO) it will impose retaliatory duties on select US products. This follows the US’s 25% hike on car and auto part imports from May 3. India argues the move violates global trade norms and affects nearly $2.9 billion in Indian exports annually. The counteraction may take effect 30 days from the notification.

BulletsIn

• India to impose retaliatory tariffs on select US goods via WTO route
• Move responds to US’s 25% tariff hike on cars, auto parts from May 3
• India claims hike impacts $2.89B worth of Indian-origin auto exports yearly
• Estimated $723.75M in additional duty burden for Indian exporters
• US move labeled “safeguard measure,” but India says it’s WTO-inconsistent
• Retaliation under Article 8.2 of WTO Safeguards Agreement
• India may act after 30 days of official notification to WTO
• Tariff suspension to match US duty impact in value
• Comes as India-US interim trade deal neared final stages
• India previously notified WTO over US tariffs on steel, aluminium