LI Network
Published on:18 July 2023 at 11:28 IST
India and the US Resolve Six Trade Disputes at WTO
India and the United States have successfully resolved all six trade disputes that were pending at the World Trade Organization (WTO).
This development aligns with the commitment made by both countries during Indian Prime Minister Narendra Modi’s visit to the US last month.
An official confirmed that India and the US have notified the WTO’s dispute settlement body (DSB) regarding the resolution of these disputes.
One of the disputes, related to India’s imposition of additional customs duties on 28 US products, had already received a communication from the WTO. The official stated that the WTO will also issue communications regarding the remaining five disputes.
In a communication dated July 17, the WTO confirmed that both countries had reached a mutually agreed solution to the matter raised in the dispute.
They have requested the dispute panel to confine its report to a brief description of the case and the information that a solution has been reached by the two parties.
The trade dispute that has been resolved stemmed from a complaint filed by the US in 2019 against India. The details of the specific issues involved in the disputes and the terms of the resolution have not been disclosed.
The resolution of these trade disputes is seen as a positive step towards strengthening bilateral trade relations between India and the US.
India and the US have been working towards enhancing their trade ties and addressing longstanding trade issues. The resolution of these disputes reflects a commitment to fostering a more robust and mutually beneficial trade relationship.