India, US agree to end 6 trade disputes at WTO; Delhi to remove retaliatory customs duties

PTI

Washington, June 23

India and the US have agreed to end six trade disputes at the World Trade Organisation while New Delhi will also remove retaliatory customs duties on 28 American products such as almonds, walnuts and apples, according to an official statement.

This comes amid Prime Minister Narendra Modi's State Visit to the US at the invitation of President Joe Biden and First Lady Jill Biden.

In 2018, the US imposed 25 per cent and 10 per cent import duties on certain steel and aluminium products respectively on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products, including chickpeas, lentils, almonds, walnuts, apples, boric acid and diagnostic reagents.

"United States Trade Representative Katherine Tai today announced that the United States and the Republic of India have agreed to terminate six outstanding disputes at the World Trade Organisation. India also agreed to remove retaliatory tariffs which it had imposed in response to the Section 232 national security measures on steel and aluminium," Tai said on Thursday.

It added that these tariff cuts will restore and expand market opportunities for US agricultural producers and manufacturers.

"Today's agreement represents the culmination of intensified bilateral engagement over the last two years, including through the US-India Trade Policy Forum, to deepen our economic and trade ties," Tai said.

"As a result of our work, US agricultural producers and manufacturers will now enjoy renewed access to a critical global market and we will strengthen our trade relationship with one of our closest partners.  I look forward to continuing to work with my counterpart, (India's Commerce and Industry) Minister (Piyush) Goyal, as we identify additional ways to bring our people and our economies together," she added.

The six disputes include three initiated by India and as many by the US. 

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