India and the US have informed the World Trade Organization (WTO) on the mutual resolution all the six trade disputes, in line with the commitment they made last month.
In five separate notifications to the WTO on Tuesday, they asked the multilateral trade watchdog to terminate these disputes. The US and India had initiated three disputes each.
The notification for the mutually agreed solution to the dispute on retaliatory duties on certain products imported from Washington, was made on Monday.
The disputes include the US’ countervailing measures on certain hot-rolled carbon steel flat products from India which New Delhi won. India also won the dispute on the US’ measures relating to the renewable energy sector. However, it lost the dispute on its
measures related to solar cells and solar modules and its export related schemes such as SEZ, EOU and MEIS schemes.
Panel report on two cases-US’ duties on steel, aluminium products, and India’s retaliatory duties on US almonds, lentils, etc-are expected by year end.
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The two sides, had last month, agreed to end six disputes at the WTO after a meeting between Prime Minister Narendra Modi and US President Joe Biden.
Source Name : Economic Times