Page 2 - Wto

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

Trade restrictions are increasing, especially on food, says WTO

The World Trade Organization said in a report on Tuesday that countries were introducing trade restrictions at an increased pace, particularly on food, feed and fertilisers

US won't agree to 2022 patent waivers for Covid tests, treatments

The US won't agree to waive intellectual-property protections for Covid-19 treatments and tests this year -- aligning with developed-nation peers and damaging prospects for a WTO accord

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

Top Headlines: Auto sector's electrification race, e-comm deal at WTO

Business Standard brings you the top headlines at this hour

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

India should nudge US to appoint judges to hear appeals at WTO

Dispute settlement is the central pillar of the multilateral trading system, and the WTO's unique contribution to the stability of the global economy

Protests, appeals: Why India's fishing communities are up in arms

Catch depleting as coastal infrastructure expands but there is no government, they say

Statsguru: Six charts show mounting trade troubles amid uncertain outlook

WTO also revised global growth figures downwards. It now expects the world to register a 2.3 per cent growth, compared to the April estimate of 3.2 per cent for 2023

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

India proposes 15% retaliatory duties on 22 items imported from UK

India has proposed additional customs duties of 15 per cent on the import of 22 products, including whiskey, cheese and diesel engine parts, from the UK in retaliation to Britain's decision to impose restrictions on steel products. In a communication to the World Trade Organisation (WTO), India said it is estimated that the safeguard measures taken by the UK on steel products have resulted in the decline of exports to the tune of 2,19,000 tonnes on which the duty collection would be USD 247.7 million. Accordingly, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in the UK, it said. "India hereby notifies the (WTO's) Council for Trade in Goods of its decision to suspend concessions or other obligations under the General Agreement on Tariffs and Trade 1994 and the Agreement on Safeguards that are substantially equivalent to the amount of trade affected by the measures of the UK," it added. The other products .

India discusses cooperation among IBSA countries in multilateral fora

India has discussed ways to step up cooperation among IBSA countries in various multilateral fora, including the UN, WTO and G20, on major issues of in the international agenda. The IBSA (India, Brazil, South Africa) has emerged as a key tripartite grouping for the promotion of cooperation in a range of areas. External Affairs Minister S Jaishankar on Wednesday hosted the 10th India-Brazil-South Africa (IBSA) Trilateral Ministerial Commission Meeting along with Brazil's Minister of Foreign Affairs Carlos Alberto Franco Frana and Dr. Joe Phaahla, Minister of Health of the Republic of South Africa. "The Ministers expressed satisfaction on the coordination and cooperation among IBSA countries in various multilateral fora, including the UN, WTO, WIPO and G20, on major issues of international agenda. They reiterated their intention to further deepen IBSA cooperation on international issues at various International Organisations and groupings," according to a joint statement issued after

G20 meet: Ways to strengthen WTO dispute settlement mechanism discussed

The meeting with the USTR is crucial since the conclusion of the 12th WTO ministerial in June, the outcome document had promised to revive the dispute settlement body in the next two years

DGTR hints at anti-dumping duty on Chinese ofloxacin, FinMin to decide

The commerce ministry has recommended imposition of anti-dumping duty on Chinese ofloxacin -- a medicine used to treat certain infections -- for five years to guard domestic players from cheap imports from the neighbouring country. Directorate General of Trade Remedies (DGTR) has recommended the duty on imports of 'ofloxacin' and its intermediates from China after concluding in its probe that the product has been exported at dumped prices into India, which impacted the domestic industry. "The authority considers it necessary and recommends imposition of the anti-dumping duty for a period of 5 years," the directorate has said in a notification. Ofloxacin is used to treat certain infections including bronchitis, pneumonia and infection of skin, bladder, urinary tract and prostate. DGTR had conducted the probe following a complaint from Aarti Drugs Ltd about the dumping and initiation of the investigation. The directorate works under the ministry. The recommended duty ranges between

EU wants India to prohibit 'discriminatory buy national practices': Report

India's Make in India and Atmanirbhar initiatives aim to favour domestic manufacturing and discourage imports, the European Union said

India, Pak bonhomie at WTO blossoms despite fractious bilateral relations

Both countries have made two joint submissions at the WTO as co-sponsors in the past two months

Top Headlines: BSNL bailout, YES Bank to raise $1.1 bn from Carlyle, Advent

Business Standard brings you the top headlines at this hour

India topped list of trade-related concerns at WTO in 2021 with 35% share

Issues were raised about India's-policy on tyres, import curbs on ACs, quality norms for copier paper and caustic soda, GM-free certification for imported food items, among other things

India got highest aid for trade from developed countries in 2020

The total disbursement during 2020 was $48.7 billion, which translates to India getting 4 per cent of the disbursements

What is the DESH Bill?

The govt is likely to introduce the Development of Enterprise and Service Hubs (DESH) Bill in the upcoming monsoon session of Parliament. How will it overhaul the ecosystem of special economic zones?