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India has challenged the American decision of levying the duties on their steel products in World Trade Organization (WTO), due to which WTO has issued notice to United States of America. This whole scenario has triggered a new tension between both the countries on trading issue. America has levied 300 percent duty on the import of steel pipes from India. Furthermore, these steel pipes fall in that category on which Indian Government allows the subsidy on a significant level. WTO has claimed in their notice released on their website that India has sought the dispute to be resolved through mutual consultations.
The first step of the procedure of dispute resolution in the WTO is the mutual consultation in which both the parties are given a chance to resolve their dispute through talks in order to avoid any legal procedure. If the matter doesn’t resolve in the 60 days then this dispute is referred to WTO Panel.
Between United States of America and India, this is another new dispute raised in the WTO where as India earlier already has raised a dispute against the increment in the visa fee of professional and expert workers.
April 15, 2012
Source: Economic Highlights
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