This is the first case involving India and the US at the WTO after both sides decided to withdraw all seven pending cases at the WTO during the Biden administration.
The WTO Appellate Body on Monday held that China was obstructing trade by forcing foreign suppliers to distribute certain copyright-intensive products through state-owned companies which is inconsistent with the Beijings obligations with the WTO.
American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12.
The European Union said on Friday that it would abide by the World Trade Organisation ruling that has favoured India in the bed linen dispute.\n\n\n\n
US officials said the win will help lower trade barriers and open new markets.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
The United States argued that it had not had an outbreak of high pathogenic avian flu since 2004, while India had 90 such outbreaks between 2004 and 2014
Modi's Made in India dream takes a beating
For India, the challenge is to strike a balance between tactical necessity and economic priorities, point out Pravin Krishna and Monil Sharma.
India and the US have settled the last trade dispute at the World Trade Organization (WTO) over poultry products, according to a joint statement released on Friday. With this, the two countries have mutually resolved all the seven pending trade disputes at the WTO. "The leaders lauded the settlement of the seventh and last outstanding WTO dispute between India and the United States.
After India filed its complaint at the WTO in 2012, the dispute settlement panel of the body in July this year had ruled in India's favour against the USA's imposition of higher duties on New Delhi's steel imports.
Bed linen issue: India files appeal in WTO
The report was in the context of an objection by the US against India's practice of imposing countervailing duty and SAD on alcoholic beverages. Trade experts said though the trade dispute body ruled in favour of the US, it did not mean much for India as it had withdrawn the CVD on alcoholic spirits in mid-2007.
March 31 marked 10 years since the Modi government introduced its first Foreign Trade Policy (FTP 2015-20) that lasted for 8 years before the current FTP 2023 came in. Here is a brief assessment. In 2015, the government said that it aims to increase India's exports of merchandise and services from $465.9 billion in 2013-14 to approximately $900 billion by 2019-20 and to raise India's share in world exports from 2 per cent to 3.5 per cent.
In a major trade victory for India and several other countries, the World Trade Organisation has held as violation of global trade rules a controversial USlaw allowing American companies to collect more than $470 million
'We may see even more restrictive policies during 2.0.'
However, the Appellate Body declined to make any recommendations to the WTO's dispute settlement body what India should do in the light of its ruling. The government has already removed the additional duty on wines and spirits last year. Similarly, it exempted various products from the extra duty, making the case redundant.
In a comprehensive ruling, the AB dismissed China's challenge on several counts, pronouncing that Beijing's measures violated global trade rules. The United States, the European Union and Canada had challenged Beijing's decision to impose 25 per cent charge on imported auto parts, or what are called semi-knocked down and completely-knocked down sets.
In a major victory for India, World Trade Organisation on Wednesday reversed its earlier compliance ruling on Indian bed linen dispute with the European Union.
India on Wednesday said it had scored a significant gain at the World Trade Organisation in a dispute with European Community over tariff preferences extended by the latter.\n\n\n\n
Protectionist and exclusionary FTAs weaken multilateralism.
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
Unless the judges factor in the ungovernability of technologies and their beneficial owners, present and future Presidents, prime ministers, judges, legislators and officials handling sensitive assignments may become redundant with reference to their age-old roles for securing 'national resources and assets', warns Dr Gopal Krishna.
