On July 13, both countries informed the WTO that they had reached a mutual agreement to resolve the issues raised in the disputes.
“The circulation of the two panel reports is merely a formality since the parties reached acceptable solutions in July. The panel did not make any findings on the claims made in the disputes,” explained an official.
The first dispute involves the US imposing additional duties of 25% on steel imports and 10% on aluminium products, affecting India and other WTO members. The second dispute relates to the US filing complaints against measures taken by WTO members, including India, in response to the Section 232 measures.
“As per the Dispute Settlement Understanding, the panel reports provide a brief overview of the disputes and acknowledge the reached solutions,” stated the WTO.
India and the US have mutually agreed to resolve six additional trade disputes at the WTO following a meeting between Prime Minister Narendra Modi and President Joe Biden. These disputes cover countervailing measures on specific hot-rolled carbon steel flat products from India, measures related to solar cells/modules and the renewable energy sector, India’s export-related measures, measures on steel and aluminium products, and additional duties on select US products.