SAWT BEIRUT INTERNATIONAL

| 21 June 2024, Friday |

US, India agree to settle last outstanding WTO dispute

The United States said Friday that it has reached an agreement with India to settle their last unresolved issue at the World Trade Organization, as leaders from both nations gathered for the G20 conference.

The agreement was reached on the same day that Indian Prime Minister Narendra Modi received US President Joe Biden, with the White House afterwards complimenting both countries’ “close and enduring partnership.”

“Today’s agreement resolves the remaining long-standing dispute and opens a new chapter of bilateral cooperation that will deepen the trade relationship between the United States and India,” stated the office of the United States Trade Representative (USTR).

The final lingering dispute was chicken, specifically India’s import restrictions on some agricultural items from the United States due to avian influenza fears.

As part of the agreement, India also agreed to reduce tariffs on certain US products such as frozen turkey and duck, alongside fresh blueberries and cranberries.

The tariff cuts will boost economic opportunities for US producers in a “critical market,” said the USTR in a statement.

In June, both countries agreed to end six WTO disputes, with India also consenting to reduce tariffs on some US products such as chickpeas and lentils.

    Source:
  • alarabiya