{"id":290106,"date":"2024-04-10T19:18:02","date_gmt":"2024-04-10T13:48:02","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=290106"},"modified":"2024-04-10T19:18:02","modified_gmt":"2024-04-10T13:48:02","slug":"peace-clause-at-wto","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/peace-clause-at-wto\/","title":{"rendered":"Peace Clause at WTO"},"content":{"rendered":"

Source<\/strong>-This post on Peace Clause at WTO<\/strong> has been created based on the article “Fifth time in a row: India invokes the peace clause for rice in WTO<\/strong><\/a>” published in “Business Standard<\/strong>” on 8 April 2024.<\/p>\n

Why in the news?<\/h2>\n

India has invoked the peace clause at the World Trade Organization (WTO) for the fifth consecutive time<\/span>. This is because India has breached the prescribed subsidy limit for rice offered to its farmers.<\/p>\n

About Peace Clause<\/h2>\n
\"Peace
Source-Business standard<\/figcaption><\/figure>\n

Introduction<\/strong>-At the Bali ministerial meeting in December 2013, WTO members agreed to temporarily<\/span> implement a mechanism known as the Peace Clause<\/span>. They also pledged to work on a permanent solution through negotiations.<\/p>\n

Description-<\/strong> According to global trade rules, a WTO member country’s food subsidy bill shouldn’t exceed 10% of the value of production<\/span>, based on the reference price of 1986-88<\/span>. Subsidies over and above the prescribed ceiling are seen as trade-distorting.<\/p>\n

Concerns-<\/strong> India has been complaining that 10 per cent subsidy ceiling is calculated on the basis of the reference price of 1986-88<\/span>. This reference price has become outdated long ago.<\/p>\n

Note-De minimis<\/strong>-This is the minimal amounts of domestic support that is allowed, even though it may distort trade. In case of developed countries<\/span>, the de minimis limit or ceiling is up to 5 % of value of production and 10 % in case of developing nation<\/span>.<\/p>\n

Read more<\/strong>–WTO Reforms and India<\/a><\/p>\n

UPSC Syllabus-International Organizations<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source-This post on Peace Clause at WTO has been created based on the article “Fifth time in a row: India invokes the peace clause for rice in WTO” published in “Business Standard” on 8 April 2024. Why in the news? India has invoked the peace clause at the World Trade Organization (WTO) for the fifth… Continue reading Peace Clause at WTO<\/span><\/a><\/p>\n","protected":false},"author":10374,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1236],"tags":[11872,10503],"class_list":["post-290106","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-organisations","tag-9pm-daily-factly","tag-business-standard","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/290106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10374"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=290106"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/290106\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=290106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=290106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=290106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}