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Tue, Nov 05, 2024 | Jumada al-Awwal 4, 1446 | DXB
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US, India agree to end six WTO disputes, lift some tariffs
Both nations also reach major deals on engines for fighter jets, semiconductor investment and space cooperation
India's Prime Minister Narendra Modi is greeted by US lawmakers as he arrives to address a joint meeting of Congress at the US Capitol. — AFP
The United States and India have agreed to end six disputes at the World Trade Organization, US authorities said on 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 aluminium, 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 aluminium products, the statement said.
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