At WTO, India cites fishing subsidy gap, seeks relook
Tuesday, 10 December 2024 India is pushing for a per capita subsidy approach in global fishing negotiations. The current aggregate model favors wealthy nations with large fishing industries, disadvantaging countries like India that provide smaller individual subsidies to support livelihoods.
Asian markets surged after the U.S. and China held "substantial" trade talks in Geneva, offering hope for a resolution to the tariff war that has shaken global markets. With earlier tariffs reaching as high as 145% on Chinese goods and 125% in retaliation, fears of a recession had loomed large. But both sides called the discussions constructive, raising expectations for a deal. The WTO praised the talks as a "significant step forward," while U.S. futures, oil, and the dollar all climbed on optimism of easing tensions.
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