New Delhi, May 13 -- India has officially informed the World Trade Organization (WTO) that it plans to impose retaliatory tariffs on imports from the United States. This move comes as a response to the US extending its safeguard duties on steel, aluminium, and related products.

India estimates that these US measures have caused it a loss of around USD 1.91 billion.

In a formal notification to the World Tarde Organisation (WTO's) Council for Trade in Goods, India said it intends to suspend concessions and other trade obligations under Article 8.2 of the Agreement on Safeguards (AoS), in connection with the measures imposed by the United States.

The suspension is proposed under Article 12.5 of the same agreement. If not resolved, the pro...