United States And India Resolve Last Outstanding WTO Dispute, Strengthen Bilateral Trade Relations

New Delhi, Sept 9 (KNN) The United States and India in a joint statement on Friday announced the settlement of the seventh and final outstanding World Trade Organization (WTO) dispute between the two nations.

In a statement, it also said that as part of the agreement to resolve their final outstanding dispute at the WTO, India agreed to reduce tariffs on certain U.S. products, including frozen turkey, frozen duck, fresh blueberries and cranberries, frozen blueberries and cranberries, dried blueberries and cranberries, and processed blueberries and cranberries.

This statement followed a closed-door meeting between US President Biden, accompanied by US Treasury Secretary Janet Yellen, and Prime Minister Modi upon their arrival.

The two sides had last month discussed this WTO dispute and expressed their shared desire to reach a solution soon.

"Resolving this last outstanding WTO dispute represents an important milestone in the US-India trade relationship, while reducing tariffs on certain US products enhances crucial market access for American agricultural producers," said USTR Katherine Tai. 

The six disputes which have been already settled include countervailing measures on certain hot-rolled carbon steel flat products from India, certain measures relating to solar cells and modules, measures relating to the renewable energy sector, India's export-related measures, certain measures on steel and aluminium products, and additional duties on some products from the US.  (KNN Bureau)