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US wants India under their control
By: Tupaki Desk | 15 July 2014 4:02 AM GMT
In many ways iUS try to mitigate the credibility of India in the global field, its an another example where US used to shout at India on Pharmacy patent rights, which India is protecting generic rights to serve poor population in the country but it do the same thing for steel where it wants to do business with Indian economy.
The United States broke global trade rules by slapping import duties on Indian steel products, a WTO panel ruled on Monday, calling on Washington to fall into line.
A World Trade Organization dispute settlement panel, said that Washington had "acted inconsistently" with regulations set down for the international body's 160 member economies. "We conclude that the United States has nullified or impaired benefits accruing to India," said the panel, which is made up of independent trade and legal experts. "We recommend the United States bring its measures into conformity with its obligations," it added.
India filed its complaint at the WTO in 2012, after Washington imposed duties of nearly 300% on imports of products including steel pipes. The United States applied the duties because it felt Indian steel manufacturers were benefiting from unfair subsidies. Now this has been convicted as a fault of US against the trade rules and asked to remove the same.
Today's ruling was the first by the WTO panel in the steel case, and Washington has the right to appeal.
The United States broke global trade rules by slapping import duties on Indian steel products, a WTO panel ruled on Monday, calling on Washington to fall into line.
A World Trade Organization dispute settlement panel, said that Washington had "acted inconsistently" with regulations set down for the international body's 160 member economies. "We conclude that the United States has nullified or impaired benefits accruing to India," said the panel, which is made up of independent trade and legal experts. "We recommend the United States bring its measures into conformity with its obligations," it added.
India filed its complaint at the WTO in 2012, after Washington imposed duties of nearly 300% on imports of products including steel pipes. The United States applied the duties because it felt Indian steel manufacturers were benefiting from unfair subsidies. Now this has been convicted as a fault of US against the trade rules and asked to remove the same.
Today's ruling was the first by the WTO panel in the steel case, and Washington has the right to appeal.
