NEW DELHI: The US has assured India that a large majority of steel and aluminium products imported from the South Asian country will be excluded from additional processes of scrutiny, commerce minister Piyush Goyal said on Friday.
This is part of the resolution of six out of seven disputes between the two nations at the World Trade Organization (WTO), Goyal said. The development tracks Prime Minister Narendra Modi’s state visit to the US this week, which included meetings with US president Joe Biden and other top government officials.
“They have given us an assurance that at least 70% of all such requests for steel and 80% for all such requests for aluminium application, for products originating from India, will be excluded from additional processes for Section 232," Goyal said.
Section 232 of the Trade Expansion Act of 1962 authorises the US commerce secretary to conduct comprehensive investigations to determine the effects of imports of any article on its national security.
Diese Geschichte stammt aus der June 24, 2023-Ausgabe von Mint Mumbai.
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