The United States and India have come to a mutual agreement to resolve their last outstanding dispute at the World Trade Organization (WTO). This momentous decision was reached during the G20 summit, where Indian Prime Minister Narendra Modi hosted US President Joe Biden. The White House has lauded the “close and enduring partnership” between the two nations.
The dispute that had lingered for some time revolved around poultry imports, particularly India’s restrictions on certain agricultural products from the United States, citing concerns about avian influenza. However, this agreement not only ends this longstanding issue but also ushers in a new era of cooperation that promises to strengthen the trade relationship between the US and India.
As part of this groundbreaking agreement, India has committed to reducing tariffs on select US products, including frozen turkey, duck, fresh blueberries, and cranberries. These tariff cuts are expected to create enhanced economic opportunities for American producers in a market that holds immense significance.
This isn’t the first positive turn in recent trade relations between the two nations. In June, both the United States and India took steps to resolve six WTO disputes. In that instance, India also agreed to reduce tariffs on certain US products, such as chickpeas and lentils.
The resolution of the final WTO dispute signals a deeper commitment to strengthening trade ties and fostering greater economic cooperation between the United States and India, providing benefits to businesses and consumers in both nations.
