trade disputes: India, US notify WTO of mutual resolution of tariff dispute

2023-07-17 17:27:44

New Delhi: India and the US have informed the World Trade Organization (WTO) that they have reached a mutually agreed solution to the dispute on retaliatory duties on certain products imported from Washington.

The two sides, had last month, agreed to end six disputes at the WTO following a meeting between Prime Minister Narendra Modi and US President Joe Biden.

The US, in 2018, had imposed 25% and 10% import duty on certain steel and aluminium products, respectively, on grounds of national security. India retaliated by imposing customs duties on 28 American products, including chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents in 2019.

Last week, India and the US notified the Dispute Settlement Body of the decision.

As part of the mutual settlement, the US has given India an assurance that at least 70% of all such requests of steel, and 80% of all such requests for aluminium applications for products originating in India will be excluded from the additional process of Section 232 of the US law that allows it to restrict imports.

India’s retaliatory tariffs are also expected to be done away for seven products under the solution.

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