India, US mutually resolve 2 trade disputes: WTO

economictimes.indiatimes.com:

World Trade Organization (WTO) on Tuesday said that two separate dispute settlement panels have stated that India and the US have mutually resolved disputes with regard to certain measures on steel and aluminium products, and additional duties on certain products from the US. On July 13, the two countries notified that they had reached a mutually agreed solution to the matters raised in the two disputes.

“The circulation of the two panel reports is a formality given that the two sides reached mutually acceptable solutions to the disputes in July. The panel did not issue any findings on the claims made by them in the respective disputes,” said an official.

The two disputes are related to the US’ Section 232 additional duties of 25% on imports of steel and 10% on aluminium products from India and certain other WTO members, and the US’ complaints against measures adopted by certain WTO members, including India, in response to the Section 232 measures. “In accordance with….the Dispute Settlement Understanding, the panel reports provide a brief description of the disputes and note that solutions have been reached,” the WTO said.

The two countries have agreed to terminate six trade disputes at the WTO after a meeting between Prime Minister Narendra Modi and US President Joe Biden. The six disputes 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.