- India may reconsider some UK trade concessions if steel exports lack relief from safeguard duties
- India could reduce tariff relief on products including Scotch whisky under the UK trade agreement
- UK's steel safeguard measures will cut tariff-free import quotas and impose a 50% duty on excess shipments
India may reconsider some concessions under the free trade agreement with the UK if its steel exports do not receive relief from the proposed safeguard duties, a senior government official in New Delhi said.
India could scale back tariff relief on a range of products, including Scotch whisky, under the trade deal signed last year, the official told reporters, asking not to be identified as the talks are private.
India has flagged concerns over the UK's recent steel safeguard measures, which will sharply reduce tariff-free import quotas and impose a 50% duty on shipments exceeding those limits, according to a Press Trust of India report. The measures will potentially restrict market access for Indian steel exports.
The dispute risks undermining one of Prime Minister Narendra Modi's key trade achievements - the free trade deal with the UK - at a time when India is seeking new partnerships to support growth. New Delhi is also pursuing to finalize a deal with the US following tensions between Modi and US President Donald Trump last year.
UK Business and Trade Secretary Peter Kyle will visit India this week for talks regarding the implementation of the trade deal, as well as the UK's new steel tariffs, Sky News reported earlier.
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