During a critical meeting of the World Trade Organisation (WTO) Council for Trade in Goods in Geneva, India allied with major Asian industrial economies, including China and Japan, to vigorously challenge the United Kingdom’s newly proposed steel trade restrictions. Moving aggressively to protect domestic industrial interests, New Delhi joined a broader coalition of six nations—including Brazil, Turkey, Switzerland and South Korea—to flag severe systemic concerns regarding London’s incoming protectionist policies. Under the controversial new rules, London will drastically shrink its existing tariff-free import quotas by an unprecedented 60% for standard steel products manufactured domestically within Britain. Any inbound cargo exceeding these tightly restricted baseline quotas will instantly trigger a massive 50% punitive tariff, effectively locking foreign producers out of the British market, as per a report.
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