Washington/New Delhi, June 23 (Hindustan Times). India and the US have agreed to end their six trade disputes at the World Trade Organization (WTO). Along with this, New Delhi has also decided to remove retaliatory customs duties on 28 US products like almonds, walnuts and apples.
Giving this information, US Trade Representative Catherine Tai said that the United States and the Republic of India have agreed to end six outstanding disputes at the WTO. India also agreed to eliminate retaliatory customs duties in lieu of duties imposed on steel and aluminum under Section 232 of the National Security Act. Tai said the agreement reflects the ongoing bilateral engagement over the past two years to strengthen our economic and trade ties.
It is noteworthy that in the year 2018, the US had imposed import duties of 25 per cent and 10 per cent on some steel and aluminum products respectively on the grounds of national security. In retaliation, India imposed customs duties on 28 US products including chickpeas, pulses, almonds, walnuts, apples, boric acid and diagnostic reagents in June 2019.
