World News

India, US resolve last outstanding World Trade Organisation dispute as Modi-Biden meet ahead of G20


Prime Minister Narendra Modi with US President Joe Biden
Image Source : PTI Prime Minister Narendra Modi with US President Joe Biden

India-US relations: On the day US President Joe Biden and Prime Minister held a much-anticipated bilateral meeting in New Delhi, the United States and India on Friday (September 8) announced the settlement of the last outstanding dispute at the World Trade Organisation (WTO) over poultry products.

According to the Office of the United States Trade Representative, India consented to lower tariffs on various American goods including frozen turkey, frozen duck, fresh and frozen blueberries and cranberries, dried and processed blueberries and cranberries, and fresh and frozen cranberries.

According to an official release, US Trade Representative, Katherine Tai announced that the US and India have agreed to resolve their last outstanding dispute at the World Trade Organization.

The tariff cuts will boost the economic opportunities for U.S. agricultural producers and ease bringing more U.S. products to consumers in India.

The announcement by the US comes on the backdrop of President Joe Biden’s meeting with PM Modi in New Delhi on the eve of the G20 Summit in India.

G20 Trade and Investment Ministers’ Meeting

After the G20 Trade and Investment Ministers’ Meeting in August this year, Ambassador Tai met with Union Minister of Commerce and Industry Piyush Goyal and discussed the WTO issue and expressed the desire for a speedy resolution.

“Resolving this last outstanding WTO dispute represents an important milestone in the US-India trade relationship, while reducing tariffs on certain U.S. products enhances crucial market access for American agricultural producers,” said Ambassador Tai. “These announcements, combined with Prime Minister Modi’s State Visit in June and President Biden’s trip to New Delhi this week, underscores the strength of our bilateral partnership. I look forward to continuing to work with Minister Goyal to deliver inclusive economic opportunities for our people,” Tai said, according to the release.

Notably, the six previous disputes were resolved during PM Modi’s state visit to the US in June. India also agreed to reduce tariffs on certain U.S. products, including chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents.

(With ANI inputs)

ALSO READ | QUAD, jet engines, drones, Chandrayaan discussed in PM Modi-Biden meeting | India-US joint statement

ALSO READ | Ahead of G20 Summit, PM Modi, Joe Biden discuss THESE issues in bilateral meet

Latest World News


Source link

Leave a Reply

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