The Economic Times daily newspaper is available online now.

    US, India agree to end six WTO disputes, lift some tariffs

    Synopsis

    India also "agreed to remove retaliatory tariffs" on certain US products such as chickpeas, lentils and almonds, the US Trade Representative's (USTR) office added in a statement. The USTR announcement came during a visit of Indian Prime Minister Narendra Modi to the United States, and both nations have also reached major deals on engines for fighter jets, semiconductor investment and space cooperation.

    U.S. President Joe Biden hosts India’s Prime Minister Narendra Modi for an official White House State Visit in WashingtonReuters
    Of the six WTO disputes, three were initiated by the United States and the other three by India.
    The United States and India have agreed to end six disputes at the World Trade Organization, US authorities said Thursday, after a meeting between the countries' leaders.

    India also "agreed to remove retaliatory tariffs" on certain US products such as chickpeas, lentils and almonds, the US Trade Representative's (USTR) office added in a statement.

    The USTR announcement came during a visit of Indian Prime Minister Narendra Modi to the United States, and both nations have also reached major deals on engines for fighter jets, semiconductor investment and space cooperation.

    The tariffs India imposed came in response to US measures on steel and aluminum, and the USTR statement said "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," said USTR Katherine Tai.

    Of the six WTO disputes, three were initiated by the United States and the other three by India.

    They involve measures on solar cells and solar modules, the renewable energy sector, as well as measures on steel and aluminum products, the statement said.
    Experience Your Economic Times Newspaper, The Digital Way!
    • Front Page
    • Pure Politics
    • ET Markets
    • Smart Investing
    • More
      (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

      Download The Economic Times News App to get Daily Market Updates & Live Business News.

      ...more
      The Economic Times

      Stories you might be interested in