India EU Trade Deal

Tariffs | India | EU After India delayed sending a trade delegation to Washington, the European Union has now hit pause on ratifying its own trade deal with the United States. This now follows a sudden 15% global tariff announced by US President Donald Trump after the U.S. Supreme Court axed his earlier numbers. But unlike India, EU stands to lose from these new tariffs. Here's why.

Prime Minister Narendra Modi has confirmed that a big agreement was signed between India and the European Union, adding that the move would come as a big boost to manufacturing and the services sector. He also said that the deal represented “25 per cent of the global GDP and 1/3rd of global trade”. The PM will also hold restricted and delegation-level discussions with European Commission President Ursula von der Leyen and European Council president Antonio Costa on the sidelines of the 16th India-European Union Summit today.

In a big update as India-U.S. trade talks are on right now, 3 people aware of the matter have told Mint that India & U.S. are closing in on the long pending deal, and that it could slash the current tariffs for Indian exports to just 15-16%, from the current 50%. So what's the key things on the table right now? Watch!