FX.co ★ US Rejects India’s Request for WTO Talks on 50% Copper Tariffs

The United States has turned down India's plea for consultations at the World Trade Organization (WTO) regarding the imposition of 50% tariffs on copper and its derivative products, asserting that these tariffs do not qualify as safeguard measures, as India suggested. The Economic Times reports that the U.S. informed the WTO that India's request for consultations lacks justification. Earlier this month, India made an approach under the WTO Agreement on Safeguards. This situation represents the third occurrence where India has sought WTO consultations with the U.S., only for the request to be declined, following previous issues involving steel, aluminum, automobiles, and auto components. The U.S. has enforced a 50% tariff on the value of semi-finished and derivative copper imports beginning August 1, under Section 232 of the Trade Expansion Act of 1962, with no specified end date for the measure's application.