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India and US to meet in Geneva next week to resolve the trade disputes

Representatives of Indian and United states governments will meet in Geneva next week to resolve the trade dispute over Washington levying high import duties on steel and aluminimum. The meeting will be held under auspices of the World Trade Organizationís dispute settlement mechanism. India has moved the WTO over the levy by United States.

A high level delegation from the commerce ministry will represent the country for the talks. United states is holding the consultations with all the countries that have filed disputes on the issue in Geneva on July 19-20.

Several countries including India, Norway, China, and Russia have filed disputes on the subject against the US. Two months ago, India dragged the US to the WTO dispute settlement mechanism over the imposition of import duties on steel and aluminium.

India has stated that the decision would impact exports of these products to the US and it is not in compliance with global trade norms.

Seeking consultation is the first step of the dispute settlement process.

The US has imposed 25 percent tariff on steel and a 10 percent tariff on aluminium. India's exports of steel and aluminium products to America stood at about1.5 billion US Dollars every year.

Both the countries are already involved in disputes at the global trade body. The disputes are in the areas of poultry, solar, export subsidies and steel.

India's exports to the US stood at 47.9 billion USA dollars in 2017-18, while imports aggregated at 26.7 billion US Dollars during the same fiscal.

 

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