Excerpt: India has launched a trade dispute against the US at the World Trade Organisation over duties on its steel products, escalating trade tensions between the two countries.The move marks the latest chapter in an outbreak of litigiousness pitting India and the US against each other at the global trade body – which could raise concerns about a souring of their economic relations. … “These things end up poisoning the larger relationship,” said Bill Reinsch, president of the National Foreign Trade Council in Washington. “It’s worrisome and it’s getting worse.” Mr Reinsch said that even before the latest tit-for-tat spat at the WTO, US companies were alarmed by the prospect of the Indian government retroactively taxing mergers between international groups and their Indian subsidiaries in the wake of Vodafone’s tax dispute with India.
http://www.ft.com/intl/cms/s/0/c3469666-84b9-11e1-a3c5-00144feab49a.html
