Shocking news for Trump! Amidst tensions with the US, these countries will trade with India without tariffs.
India EU FTA: European Commission President Ursula von der Leyen has said that the free trade agreement will be finalised by the end of this year.
Relations between India and the US are strained due to tariffs. Despite this, US President Donald Trump wished Prime Minister Narendra Modi on his birthday on Wednesday (September 17). Meanwhile, news has come as a shock to Trump. The European Union has said it will finalize a free trade agreement with India by the end of this year. Trump has imposed a 50 percent tariff on India, which is also hurting the United States.
The European Union (EU) on Wednesday unveiled a new strategic agenda to advance its ties with India in key areas such as defence, trade and energy and jointly address major global challenges. The EU said its partnership with India is becoming increasingly important in light of changing geopolitical realities and it is essential for both sides to strengthen economic development and security.
“Now is the time to focus on trusted partners. We must redouble our efforts on partnerships based on shared interests and common values,” said European Commission President Ursula von der Leyen. With our new EU-India strategy, we are taking our relations to the next level.
The India–EU Free Trade Agreement (FTA) is expected to be finalized by the end of this year, as Europe remains India’s largest trading partner. The EU leader said the agenda will focus on trade, investment, talent mobility, economic security, and defense cooperation. This new strategic agenda, covering security, connectivity, prosperity, sustainability, and technology/innovation, will be presented to all 27 EU member states and formally adopted at the India–EU summit next year.