BUSINESSLINE

SUMMARY

Escalating its clash with the US at the WTO over imposition of 25 per cent import duties on steel and aluminium, India has warned that it may take retaliatory action affecting $7.6 billion worth of imports of American goods in 30 days time.

New Delhi is hopeful that the issue could be settled between India and the US through either consultations at the WTO or as part of the India-US bilateral trade agreement (BTA) being negotiated but it would work on a list of imports that could be penalised, sources tracking the matter said.

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