HomeCURRENT AFFAIRSPOLITICSUS lawmakers urged Biden to hold India answerable in WTO for 'trade-distorting...

US lawmakers urged Biden to hold India answerable in WTO for ‘trade-distorting practices’

A total of 12 US lawmakers have urged President Joe Biden to hold India accountable in WTO for its ‘trade-distorting practices’. The lawmakers have urged Biden to formally file a consultation request to India at the World Trade Organization’s 12th Ministerial Conference over India’s “dangerous trade-distorting practices”, which they claim has impacted U.S farmers and ranchers.

Must read: https://www.dnpindia.in/current-affairs/politcs/protests-and-processions-banned-after-udaipur-killing-uttar-pradesh-on-high-alert/70246/

About WTO 12th ministerial conference

The World Trade Organization (WTO), the world’s biggest economic organisation, concluded a bunch of negotiations on e-commerce, trade, food security and ending harmful fishing subsidies at the 12th Ministerial conference. At the 12th Ministerial Conference, which went on from June 12-17, WTO passed a series of new trade rules. A multilateral agreement to curb “harmful” subsidies on illegal fishing was also passed. For the first time, the members concluded an agreement with sustainability at its heart, said Okonjo-Iweala. “This is also about the livelihoods of the 260 million people who depend directly or indirectly on marine fisheries.”

Issues of Supply chain

US shouldn’t yield just to focus on reaching a consensus, rather it must work to promote solutions as it will enhance the global supply chain and food shortages. It is necessary to take actions to address those consumers who are impacted mostly by inflation and rising food prices. “It is up to the American agriculture to contribute to building resilient conditions for food security for the U. S. and throughout the world,” the law makers said.

Must read: CBSE to announce Class 10th board results on July 4 and Class 12th on July 10 (dnpindia.in)

Law makers claim

The U.S Congressman in a letter said that, India’s “lack of rule-following” and the Joe Biden regime’s “lack of enforcement” have turned the global agricultutre production & trade channels by lowering the prices, poor production of wheat and rice entities, and putting the American producers at disadvantage.

“India’s practices are dangerously trade-distorting on a global scale and impact U. S. farmers and ranchers,” the letter read. The lead in the letter was taken by Congressmen Tracey Mann and Rick Crawford.

The 12 US law makers have said that the current WTO rules allowed the government to subsidise 10% of the value of commodity production. However, the Indian government still continues to subsidise more than half of the value of production for several commodities, including wheat and rice, they said.

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