IMMEDIATE NOTIFICATION TO THE COUNCIL FOR
TRADE IN GOODS OF
THE RESULTS OF THE CONSULTATIONS UNDER ARTICLE 12.3
OF THE AGREEMENT ON SAFEGUARDS
IMMEDIATE NOTIFICATION UNDER ARTICLE 12.5 OF
THE AGREEMENT ON
SAFEGUARDS TO THE COUNCIL FOR TRADE IN GOODS OF PROPOSED
SUSPENSION OF CONCESSIONS AND OTHER OBLIGATIONS
REFERRED TO IN PARAGRAPH 2 OF ARTICLE 8
OF THE AGREEMENT ON SAFEGUARDS
COMMUNICATION FROM INDIA
Certain
steel products
The following communication,
dated and received on 27 March 2025, is being circulated at the request of the
delegation of India.
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Pursuant to Article 12.5 of the
WTO Agreement on Safeguards, India is notifying the results of the
consultations held under Article 12.3 of the Agreement on Safeguards with the
European Union (the EU) regarding the latter's safeguard measures on
certain steel products notified to the WTO vide
documents _G/SG/N/8/EU/1/Suppl.1
- _G/SG/N/10/EU/1/Suppl.1
- _G/SG/N/11/EU/1/Suppl.2
dated 7 February 2019. The consultations follow the EU's decision to notify
adjustments to the measure vide
documents _G/SG/N/10/EU/1/Suppl.20
- _G/SG/N/11/EU/1/Suppl.13
dated 12 March 2025.
India and the EU held
consultations on 19 March 2025 in online mode with a view to discuss the
information provided in the abovementioned documents. India and the EU
exchanged views on the measure. The EU and India could not reach an agreement
on maintaining substantially equivalent concessions, or, on trade compensation.
The EU's measure has caused an
annual trade loss of US$1.472 Billion (2023 – 2024) to India, on which the duty
collection (at 25% duty) would be US$368 Million. The measure has caused a
cumulative trade loss of US$6.92 Billion to India since 18 July 2018, on which
duty collection would be US$1.73 Billion.
India consequently reserves the
right to suspend substantially equivalent concessions or other obligations
under Article 8.2 of the Agreement on Safeguards, on the EU's trade, and any
other right available under GATT 1994 and Agreement on Safeguards.
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