India, US close to settling seven trade issues out of court

India and the US are in advanced talks for an out-of-court settlement to resolve seven trade disputes at the World Trade Organization (WTO), and headway is expected soon, said a person aware of the development

- Ravi Dutta Mishra

This development coincides with Prime Minister Narendra Modi’s crucial three-day state visit to the US from 21 June, during which various strategic issues are expected to be discussed.

“There are seven disputes between India and the US at the WTO. Talks for an out-of-court settlement are at an advanced stage. So, after we reach an agreement, we could approach the dispute settlement panel and mutually agree to take back the cases. For instance, the US may agree to take back three cases against India and India would do the same," said the person on condition of anonymity.

The settlement talks assume significance as they also include the dispute over a steep 25% tariff on Indian steel and 10% tariff on aluminium exports imposed by former US President Donald Trump in 2018, sparking trade tensions between the two countries.