India has proposed imposing retaliatory duties under WTO norms on certain goods imported from the EU, as the two sides have failed to reach a consensus on the European Union's restrictive safeguard measures on certain steel products. In a communication to the World Trade Organisation (WTO) dated March 27, India said it "reserves the right to suspend substantially equivalent concessions or other obligations" under a provision of the Agreement on Safeguards, on the EU's trade. The EU's measure has caused an annual trade loss of USD 1.472 billion (2023-2024) to India on which the duty collection (at 25 per cent duty) would be USD 368 million. "The measure has caused a cumulative trade loss of USD 6.92 billion to India since 18 July 2018, on which duty collection would be USD 1.73 billion," the communication said. India and the EU held consultations on March 19, 2025, in online mode on the European Union's move. "India and the EU exchanged views on the measure. The EU and India could