India criticises safeguard measures on steel import by EU, UK

Certain WTO countries, including India, Switzerland, Russia, and Japan, have criticised the safeguard measures imposed by the EU and the UK on imports of certain steel products, stating it is inconsistent with global trade rules, an official said.The comments were made by these countries during the meeting of World Trade Organisation's (WTO's) Safeguards Committee on Wednesday.The Geneva-based official said, "Switzerland, Brazil, Japan, China, Korea, Russia and India criticised the European Union's decision to maintain its safeguard measure on imports of certain steel products, which was imposed by the EU after the US imposed additional duties on steel imports during the Trump administration”.
These members regretted the EU's decision not to terminate the measure during a recent review and argued the safeguard was inconsistent with WTO rules, the official said.However, the EU argued that the safeguard will expire at the end of June 2024.Further India, Korea, Switzerland, Japan, Russia and Brazil "criticised the UK for maintaining its safeguard measures on imports of The WTO is a Geneva-based, 164-member global body, which frames rules and norms for exports and imports and adjudicates trade disputes among member countries.India has substantial interest as an exporter of these products.India is concerned about the European Union's move as it exports nearly 6 per cent of its steel output to Italy-a member of the EU. Duties like anti-dumping, safeguard, and countervailing are trade remedy measures, provided under an agreement of the WTO to its member countries. They are used to provide a level-playing field to domestic industry in case of dumping of goods, significant increase in imports and subsidised imports.certain steel products", the official said.These WTO member countries argued that the measure was not in compliance with WTO rules.Further, the official said Korea and Singapore questioned India on its safeguard measure on Isopropyl Alcohol.India responded by saying that the measure is due to expire on March 21 next year.The next meeting of the safeguards committee will take place in April 2024.