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India, US decide to end six trade disputes
India, US decide to end six trade disputes
India and the US have agreed to end six key trade disputes at the World Trade Organisation (WTO) while New Delhi will also remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
Washington/New Delhi: India and the US have agreed to end six key trade disputes at the World Trade Organisation (WTO) while New Delhi will also remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
The six disputes include three initiated by India and as many by the US. Announcing this, United States Trade Representative (USTR) Katherine Tai in a statement said that these tariff cuts will restore and expand market opportunities for US agricultural producers and manufacturers.
A joint statement issued after the meeting of Prime Minister Narendra Modi and US President joe Biden said that both the countries have taken steps towards deepening bilateral cooperation to strengthen their economic relationship, including trade ties. "The leaders welcomed the resolution of six outstanding WTO disputes between the two countries through mutually agreed solutions," it said.
