India proposes to impose retaliatory duties on certain steel imports from the EU after both sides failed to reach a consensus.
Mar 29, 2025
India’s steel exports suffered an annual loss of USD 1.472 billion in 2023-24 due to the EU’s policies. The duty collection from steel has reached USD 368 million at a 25% tariff. Since the imposition of tariffs in July 2018, India has faced a trade loss of approximately USD 6.92 billion, with total duty collections surmounting to USD 1.73 billion.
In response to this trade loss, India plans to impose retaliatory tariffs on select steel imports from the European Union (EU) under WTO norms as the nation has the right to impose equivalent obligations under the ‘Agreement on Safeguards’. This is seen as a countermeasure to the EU’s trade measures.
Also Read: US Imposes 26% Reciprocal Tariff on India
Despite multiple discussions, India and the EU could not come to a consensus, leading to India’s decision to explore viable options for countermeasures.
