India, US reach breakthrough in row over key WTO pact

Indian workers remove plastic sheet covering sacks of wheat at a storage facility on the outskirts of Amritsar in IndiaIndia and the United States said Thursday they have resolved a row over food subsidies that has been blocking a landmark global trade agreement for months. The Trade Facilitation Agreement (TFA) has been stalled since July, when India refused to endorse the pact unless its food stockpiles were exempted from possible punitive measures, prompting the US to accuse it of taking the World Trade Organization “to the brink of crisis”. The White House said the deal would “unlock progress toward the full and immediate implementation of the WTO Trade Facilitation Agreement, which will lower the costs of trade for developed and developing countries”. India said it was “extremely happy that India and the US have successfully resolved their differences relating to the issue of public stockholding for food security purposes”.

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