India and the United States Thursday agreed to end six disputes at the World Trade Organization after a meeting between the countries’ leaders, reported AFP citing US authorities.
India “agreed to remove retaliatory tariffs” on certain US products such as chickpeas, lentils and almonds, the US Trade Representative’s (USTR) office said in a statement.
The USTR announcement came during a visit of PM Narendra Modi to the US, 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,” AFP reported quoting 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.
Download The Mint News App to get Daily Market Updates.
Updated: 23 Jun 2023, 03:36 AM IST