India, US Resolve Last Outstanding WTO Dispute, Strengthen Ties Amid G20 Summit

[ad_1]

Last Updated: September 09, 2023, 06:20 IST

PM Modi, and US President Joe Biden hold talks in New Delhi, on the sideline of G20 Summit. (PMO/Twitter)

PM Modi, and US President Joe Biden hold talks in New Delhi, on the sideline of G20 Summit. (PMO/Twitter)

US and India resolve WTO dispute, deepening trade ties at G20 summit. Poultry dispute settled, tariffs reduced for economic growth

India and the United States have agreed to resolve their last outstanding dispute at the World Trade Organization (WTO), as leaders of both countries met for the G20 summit. The deal came as Prime Minister Narendra Modi hosted US President Joe Biden at the 7, Lok Kalyan Marg in New Delhi amid the ongoing G20 Summit.

“The leaders lauded the settlement of the seventh and last outstanding World Trade Organisation (WTO) dispute between India and the United States. This follows the unprecedented settlement of six outstanding bilateral trade disputes in the WTO in June 2023,” the Ministry of External Affairs (MEA) said in a statement.

The US Trade Representative’s (USTR) office said the latest deal resolves the remaining long-standing dispute and opens a new chapter of bilateral cooperation that will deepen the trade ties between the two countries. The final outstanding clash involved poultry, and in particular India’s import restrictions on certain agricultural products from the US over avian influenza concerns.

“As part of the agreement, India also agreed to reduce tariffs on certain U.S. products, including frozen turkey, frozen duck, fresh blueberries and cranberries, frozen blueberries and cranberries, dried blueberries and cranberries, and processed blueberries and cranberries. These tariff cuts will expand economic opportunities for U.S. agricultural producers in a critical market and help bring more U.S. products to customers in India,” said the USTR in a statement.

Earlier in June, Washington and New Delhi had agreed to end six WTO disputes, with India also consenting to reduce tariffs on some US products such as chickpeas and lentils.

[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *