India, US reach deal to break WTO impasse

In a major victory for India, the US on Thursday agreed to support the former’s demand to be allowed to continue with its food stockpiling scheme. In return, India will lift its veto on a global agreement on streamlining customs rules, known as the Trade Facilitation Agreement (TFA), being negotiated by the members of the World Trade Organization (WTO). With this, the TFA – which is estimated to add $1 trillion to the world economy…

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