- India and the US resolve the last outstanding World Trade Organization dispute as Modi-Biden meets ahead of G20.
- According to the Office of the United States Trade Representative, India consented to lower tariffs on various American goods.
- It was issued after the meeting of Prime Minister Narendra Modi and United States President Joe Biden in Delhi.
- Earlier, the seventh dispute was discussed during the visit of US Trade Representative Katherine Tai’s meeting with Commerce and Industry Minister Piyush Goyal meeting last month here.
- PM Modi and the US President vowed to “deepen and diversify” the bilateral major defence partnership.
- Both forwarded movement in India’s procurement of 31 drones and joint development of jet engines.
On the day US President Joe Biden and Prime Minister held a much-anticipated bilateral meeting in New Delhi, the United States and India announced the settlement of the last outstanding dispute at the World Trade Organization (WTO) over poultry products.
In their over 50-minute talks, the two leaders deliberated on India’s G20 presidency, cooperation in nuclear energy, critical and emerging technologies such as 6G and artificial intelligence, and ways to fundamentally reshape multilateral development banks.
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 the 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.
After the G20 Trade and Investment Ministers’ Meeting in August this year, Ambassador Tai met with the 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 inputs from agencies)
