World Trade Organisation

China will impose additional tariffs on some products imported from the United States, effective from March 10

New Delhi is also trying to decipher what will be the shape of the US's proposed reciprocal tariff law before drawing conclusions regarding its consistency with respect to global trade norms under WTO

The European Commission on Friday said the US's 'reciprocal' policy is a step in the wrong direction and will react firmly and immediately against unjustified barriers to free and fair trade

According to the latest available estimates by India Tourism Statistics Report for 2022, Canada was the second most preferred destination for Indians to study abroad

India and Chinese Taipei have asked the WTO's dispute settlement body not to adopt any ruling against New Delhi's import duties on certain information and technology products till July 26 as both sides are engaged in resolving the matter, an official said. The issue came up during a meeting of the dispute settlement body (DSB) in Geneva on April 26. In the meeting, the two countries asked DSB to delay consideration of a dispute panel's reports until July 26, 2024 in order to help facilitate resolution of the disputes, the Geneva-based official said, adding that the body agreed to that. Earlier also, DSB had agreed to three previous requests from India and Chinese Taipei to delay consideration of the reports. As per rules of the WTO, the panel's ruling will have to be adopted by DSB for implementation within 60 days of the release of the order. However, countries can mutually request DSB for delay in adoption of the ruling. In its report, a dispute panel of WTO on April 17, 2023

Countries say European bloc's safeguard duty was inconsistent with regulations of the global trade organisation

In her testimony before the House Ways and Means Committee Hearing on the President's 2024 Trade Policy Agenda, Tai mentioned that India and the US resolved the final outstanding WTO dispute

Two developing countries say there is no consensus on proposal and it can't be included in outcome document of ministerial conference

India is a consensus builder in the World Trade Organisation (WTO) by playing a key role in the process but some countries are breaking that, Commerce and Industry Minister Piyush Goyal said on Wednesday. He is here for the 13th ministerial conference (MC) of the WTO. The meeting started on February 26 to discuss issues such as agriculture and fisheries subsidies, dispute settlement and moratorium on customs duty levy on e-commerce trade. The minister's remarks came amid allegations by certain developed nations that India is blocking deals at the WTO. "Our stand is consistent... we have to see who are blocking the issues and who is responsible for not letting things of the WTO smoothly... It is proved that India in fact is a consensus builder and we are playing a key role in making consensus ...and certain countries are breaking that consensus on certain issues," Goyal told reporters here. He also said that India stands on strong principles of fair play, justice at the WTO and want

Building coalitions with other WTO members will help India push for the adoption of open and interoperable payment systems like UPI with a view to cut the cost of money transfers or remittances, a report by think tank GTRI said on Monday. The dominance of a few large players in the market contributes to these high costs, through complex and opaque fee structures, the GTRI said. It added that India's recommendations to tackle this include encouraging digital transfers, fostering interoperable systems, promoting competition, streamlining regulations, and enhancing pricing transparency. In the ongoing WTO's 13th Ministerial Conference (MC13) in Abu Dhabi, UAE and India will make a strong push for the adoption of open and interoperable payment systems, among WTO (World Trade Organisation) members. The Global Trade Research Initiative (GTRI) said that this proposal is driven by India's belief that such systems can streamline global digital payments, and cut costs by fostering innovation

The World Trade Organisation will open its biennial meeting Monday in the United Arab Emirates as the bloc faces pressure from the United States and other nations ahead of a year of consequential elections around the globe. The WTO's 164 member nations will discuss a deal to ban subsidies that contribute to overfishing, extending a pause on taxes on digital media like movies and video games, and agricultural issues. But headwinds remain for the organisation and the world's economy, particularly as the recovery from the coronavirus pandemic remains uneven across nations. Meanwhile, there are more than 50 elections affecting half the planet's population planned for this year perhaps none more critical for the WTO than the US presidential election on November 5. Running again is former President Donald Trump, who threatened to withdraw the US from the WTO and repeatedly levied tariffs taxes on imported goods on perceived friends and foes alike. A Trump win could again roil global ..

India has found support from a group of developing nations at the WTO, including Africa on this issue. However, developed countries view this as a subsidy for farmers and as a distortion to trade

Signs are pointing towards alignment with central bank targets, says RBI Deputy Governor Debabrata Patra

WTO members have engaged in informal delegate-level discussions since April 2022, initiated by the US, which is seeking consensus on reforms in the dispute settlement system

The Indian government has announced fiscal incentives for solar cell and module manufacture and imposed higher import duties on Chinese products

Reaching an agreement on food stockpile issue at the WTO meet next month is difficult as both developed and developing countries have diverse views on the matter, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that developed countries like the US argue that India's programme could distort trade. The issue will figure in the 13th ministerial conference (MC 13) at Abu Dhabi from February 26-29. MC is the highest decision making body of the 164-member Geneva-based global trade body WTO. "MC13 might not resolve the issue, showing the conflict between developing countries wanting to protect food security and developed countries pushing for free trade," the GTRI said in its report. India's top priorities for the MC13 include securing a permanent solution for its public stockholding (PSH) programme. This programme seeks flexibility in food procurement and pricing, crucial for India's food security needs. The PSH programme is a policy tool unde

Amid scrutiny of its market support for rice, India must remain vigilant in signing future trade deals to safeguard its interests

As the World Economic Forum Annual Meeting drew to a close, global leaders on Friday said the economy and trade appeared to be moving towards normalisation but were yet expected to be far from normal. WTO Director-General Ngozi Okonjo-Iweala said the global trade was weak in 2023 before seeing an uptick in the last quarter. "We have been more optimistic about 2024, and I feel, we are moving towards normalisation, but I still don't see it returning to a normal fully," she said at a panel discussion on 'The global economic outlook' on the last day of the WEF Annual Meeting 2024 here. "There are so many uncertainties, and there also so many elections around the world, making it difficult to predict anything," she added. The WTO chief said she would still expect trade growth to be better than in 2024 unless a major war breaks out. She said there are some bright shoots on the trade front, and the trade has been the force for resilience. The WTO chief also said it is politically diffic

The US has sought clarification once again even as India cited national security concerns as a rationale behind its August 2023 decision

India has strongly objected to efforts of certain countries to push a proposal on investment facilitation at the WTO, saying the agenda falls outside the mandate of the global trade body and cannot be deliberated in formal meetings. According to the statement of the Indian delegation in a meeting of the General Council of the World Trade Organisation (WTO), held during December 13-15, negotiation on investment does not belong to the WTO. "I would like to reiterate that Investment Facilitation for Development (IFD), which supposedly facilitated investment, did not pertain to multilateral trade relations. Investment per se is not trade," the statement said. It added that investment covers a wide range of assets or enterprises subject to a separate universe of obligations. "The negative mandate did not allow the Members, desirous of IFD, to pursue it in a multilateral forum upon a consensus," the statement said. It added that certain members began an informal process that did not hav