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US and India Resolve WTO Dispute in Historic Agreement

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US and India Resolve Dispute at World Trade Organization

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Introduction

The United States and India have reached an agreement to resolve their latest dispute at the World Trade Organization. This announcement was made during a meeting between US President Joe Biden and Indian Prime Minister Narendra Modi on the eve of the G20 summit in India.

New Chapter in Bilateral Cooperation

According to White House trade spokeswoman Catherine Tay, this agreement not only resolves a long-standing dispute but also opens a new chapter in bilateral cooperation, deepening trade relations between the United States and India.

Poultry Dispute

The dispute between the two countries at the World Trade Organization primarily revolved around poultry. However, after negotiations, both parties have successfully resolved this issue.

Resolution of Multiple Disputes

In addition to the poultry dispute, the United States and India have also agreed to end five other disputes within the framework of the World Trade Organization. This positive outcome was achieved after a meeting between President Biden and Prime Minister Modi.

Elimination of Retaliatory Tariffs

As part of the agreement, India has agreed to remove retaliatory tariffs on specific US products such as chickpeas, lentils, and almonds. This move aims to further promote trade between the two nations.

Conclusion

The resolution of these disputes marks a significant milestone in the trade relations between the United States and India. With the removal of barriers and the commitment to cooperation, both countries can look forward to enhanced economic collaboration.

Source

Source: Agencies

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