India

The U.S. has requested authorization to retaliate against India to the tune of $450 million; that determination has been pushed back to January.

A World Trade Organization dispute settlement panel on Thursday told India to withdraw a variety of export subsidies it employs after the U.S. successfully challenged their conformity with WTO rules.

Goyal says Lighthizer “was caught up earlier when we met in the U.S.... But the two countries had almost resolved the broad contours of what was going to announced. I don’t see any great difficulty in closing the gap on the first announcement.”

GENEVA -- India, China, the African Group and other World Trade Organization members this week defended the “rights” of developing countries to special and differential treatment, likely setting up a confrontation with the U.S. at next week’s General Council meeting.

A preliminary trade deal between Washington and New Delhi is coming “very soon,” President Trump said on Tuesday, adding that the two countries aimed to strike a more comprehensive deal “down the road a little bit.”

The U.S. has requested a World Trade Organization dispute settlement ruling on tariffs imposed by India following the Trump administration’s removal of the country from a program granting preferential treatment for some developing countries.

“We are looking at an early resolution of many issues. Whether a deal will be announced or not that is up to the prime minister and the president to decide.”

U.S. Trade Representative Robert Lighthizer and Indian Commerce Minister Piyush Goyal spoke on Friday about a potential face-to-face meeting ahead of United Nations General Assembly meetings in late September, when the Trump administration hopes to announce a partial bilateral trade deal.

In a series of bilateral meetings on the margins of the G7 leaders’ summit in Biarritz, France, President Trump addressed pressing trade issues with his counterparts, including looming auto tariffs, trade tensions with China and World Trade Organization reform.