Page 5 - World Trade Organization

India in bilateral talks with Brazil to resolve sugar dispute at WTO

India is in negotiations with Brazil to resolve a sugar dispute at the World Trade Organisation (WTO) and the commerce ministry is coordinating with concerned departments for the same, government sources said. India is also following a similar process for other complainants of the sugar dispute at the Geneva-based WTO, they said. In 2019, Brazil, Australia and Guatemala dragged India into the WTO's dispute settlement mechanism alleging that New Delhi's sugar subsidies to farmers are inconsistent with global trade rules. The Department of Commerce is coordinating with all the concerned line ministries to arrive at possible alternatives, one of the sources, who is aware of the development, said. The exercise assumes significance as a WTO dispute settlement panel on December 14, 2021, ruled that India's support measures for the sugar sector are inconsistent with the global trade norms. In January 2022, India appealed against the panel's ruling at the WTO's appellate body, which is th

India, US to end 6 trade disputes at WTO; Delhi to remove customs duties

India and the US have agreed to end six trade disputes at the World Trade Organisation while New Delhi will also remove retaliatory customs duties on 28 American products such as almonds, walnuts, and apples, according to an official statement. This comes amid Prime Minister Narendra Modi's State Visit to the US at the invitation of President Joe Biden and First Lady Jill Biden. In 2018, the US imposed 25 per cent and 10 per cent import duties on certain steel and aluminium products respectively on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products, including chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents. "United States Trade Representative Katherine Tai today announced that the United States and the Republic of India have agreed to terminate six outstanding disputes at the World Trade Organization. India also agreed to remove retaliatory tariffs which it had imposed in response to the .

Import duty case: Japan urges India to rescind decision of appeal in WTO

Japan on Tuesday expressed disappointment over India's decision to appeal against a ruling of the WTO trade dispute settlement panel on import duties on certain information and technology products, and has urged to withdraw it, a Geneva-based official said. On May 25, India appealed against a ruling of the World Trade Organization's (WTO) trade dispute settlement panel which stated that the country's import duties on certain information and technology products are inconsistent with the global trade norms. The ruling followed a dispute filed by the European Union, Japan and Taiwan against these duties in WTO. Japan flagged its concerns during the meeting of the dispute settlement body in Geneva. "Japan has urged India to rescind its decision (concerning appeal)" the official said. The dispute panel of WTO on April 17 said in its report that import duties imposed by India on certain information and technology products violate global trading norms. The appeal was filed by India in t

A dispute lost

Electronics tariffs must be temporary at best

India plans to appeal against WTO panel ruling on IT tariffs: Govt

If India appeals, the case will sit in legal purgatory since the WTO's top appeals bench is no longer functioning due to US opposition to judge appointments

Cryptocurrency to FTA: Nirmala Sitharaman discusses range of issues in US

Sitharaman said that the World Trade Organisation (WTO) needs to be more progressive and must give space to countries that have something different to say

Global trade growth expected to be subpar at 1.7% in 2023: WTO

With this, the trade growth is below the 12-year average of 2.6 per cent since the trade collapse that followed the global financial crisis in 2008

WTO Public Forum 2023 to examine trade contribution to greener future

The World Trade Organisation (WTO) annual Public Forum 2023 will focus on how trade can contribute to a greener, more sustainable future

Terms of engagement

India-US economic partnership needs more energy

LIVE: CBI raids Delhi Deputy CM Manish Sisodia's office at secretariat

Live news updates: The remains would be taken to Sharad Yadav's ancestral village in Narmadapuram, Madhya Pradesh

WTO: India seeks views on consumer protection in e-commerce sector

Also calls for greater cooperation among enforcement agencies of member countries

US duty on steel, aluminium inconsistent with global trade norms: WTO panel

A dispute panel of the World Trade Organisation (WTO) has ruled that the US decision to impose customs duties on certain steel and aluminium products is inconsistent with the global trade norms. This ruling was given in the cases brought by China, Norway, Switzerland and Turkey against these duties. The WTO report assumes significance for India also, as the country in 2018 too had approached the Geneva-based WTO against the US move to impose these duties. According to sources here, this ruling will help strengthen the Indian case too. However, the sources said that India is inclined to resolve the dispute with the US amicably and on mutually agreed terms. India had earlier stated that the imposition of high import duties by the US has impacted exports of these products by Indian businesses. India too has alleged that the US move is also not in compliance with global trade norms. In 2018, the US imposed 25 per cent and 10 per cent import duties on certain steel and aluminium produ

WTO rules against Trump's steel and aluminum tariffs

The World Trade Organisation has rejected the 2018 import taxes that then-President Donald Trump imposed on foreign steel and aluminum, saying they violated global trade rules. Trump's tariffs of 25% on foreign steel and 10% on aluminum outraged America's long-standing allies, including the European Union and Japan, because he relied on a little-used provision of U.S. trade law to declare their steel and aluminum a threat to U.S. national security. China and other trading partners challenged the tariffs at the 164-nation WTO. In a ruling issued Friday, the WTO said it was not persuaded'' that the United States faced an emergency in international relations'' that would justify the tariffs. Friday's decision, however, will likely have little real-world impact. If the United States appeals the ruling, it will go nowhere. That's because the WTO's Appellate Body hasn't functioned for three years, ever since the U.S. blocked the appointment of new judges to the panel. And the Biden ...

WTO calls for free trade in goods to cope with climate change

The WTO report argues that trade is part of the solution for achieving a low carbon, resilient, and just transition

Data Bill may not lead to India joining e-commerce deal at WTO

India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017

Expanding India's global stamp: FTAs are the way to go if gaps are plugged

The complexities of rule of origins may end up distorting trade instead of fostering it

EU, US set up task force to resolve feud over electric vehicle batteries

The U.S. and the European Union have set up a task force tasked with resolving a dispute over electric vehicle batteries that the EU says would discriminate against manufacturers in the 27-nation bloc and break World Trade Organization rules. Under the Inflation Reduction Act (IRA) passed by U.S. Congress in August, electric car buyers are eligible for a tax credit of up to $7,500 as long as the vehicle runs on a battery built in North America with minerals mined or recycled on the continent. The EU believes that the measure is a potential trans-Atlantic trade barrier discriminating against foreign producers. The EU announced on Wednesday that Bjoern Seibert, the head of cabinet to European Commission President Ursula von der Leyen met in Berlin with U.S. Deputy National Security Advisor Mike Pyle to launch the task force. A first meeting will take place next week. The Task Force will address specific concerns raised by the EU related to the IRA," the Commission said. Both sides ..

The economy is losing momentum

India will need to adjust to slowing global trade

WTO slashes global 2023 trade growth forecast to 1% as recession looms

The fresh WTO forecasts estimate world GDP at market exchange rates will grow by 2.8% in 2022 and 2.3% in 2023 - the latter is 1 percentage point lower than what was previously projected

World is 'edging into' a recession, warns WTO chief Ngozi Okonjo-Iweala

"The indicators are not looking good," WTO Director-General Ngozi Okonjo-Iweala said during an interview in Geneva Tuesday. "I think a global recession - that is what I think we are edging into."