Trade deal: India and EU announce FTA amid Trump tariff tensions

The European Union and India have unveiled a historic Free Trade Agreement (FTA) after almost 20 years of intermittent negotiations. This milestone deal marks a significant step for both parties, as they seek to bolster economic ties and enhance market access. The agreement comes at a crucial time, with global trade dynamics increasingly strained by protectionist policies, notably those emanating from the United States under former President Trump's tariffs. This FTA is expected to significantly reduce barriers, facilitating smoother trade flows between India and the EU. Key sectors such as technology, pharmaceuticals, and agriculture are poised to benefit from lowered tariffs and streamlined regulations. Both sides have expressed optimism that this deal will not only boost economic growth but also foster closer political and strategic cooperation, reinforcing their commitment to multilateralism in an era of growing unilateral trade measures. As the global trade landscape evolves, the India-EU FTA stands as a testament to the importance of collaborative efforts in addressing economic challenges. By choosing to deepen their partnership, the EU and India are setting a precedent for other nations grappling with similar trade tensions. The agreement underscores the potential for cooperative frameworks to deliver mutual benefits, signaling a shift towards more inclusive and resilient global trade practices.

— Authored by Next24 Live