Global Trade Tensions: China and US Seek WTO Resolution

The World Trade Organisation's Dispute Settlement Body has agreed to China's request to review measures imposed by India in the automotive and renewable energy sectors. Meanwhile, the U.S. has notified its decision to appeal a panel report regarding tax credits under the Inflation Reduction Act, initiated by China.

The World Trade Organisation's Dispute Settlement Body has advanced global trade dialogues by agreeing to a request from China on Tuesday. The body will convene a panel to examine the measures imposed by India within the automotive and renewable energy sectors, according to official statements.

In a related development, the United States has expressed its intention to appeal a panel report. The report was part of a case launched by China over certain tax credits linked to the US Inflation Reduction Act.

This international trade maneuvering highlights ongoing tensions and negotiations between major global economies as they navigate complex legislative frameworks.

(With inputs from agencies.)