EU-India deal ‘accelerated’ over past six months amid Trump’s tariff threats – Europe live | Europe

EU-India deal ‘accelerated with gusto’ over past six months amid Trump’s tariff threats – snap analysis

Hannah Ellis-Petersen

South Asia correspondent
in New Delhi

India, the world’s largest country with a population of 1.4 billion, is also one of the world’s fastest-growing economies and is on track to become its fourth-largest economy this year, according to the International Monetary Fund.

Indian prime minister Narendra Modi and European Council president Antonio Costa shake hands during a joint press statement at the Hyderabad House in New Delhi, India.
Indian prime minister Narendra Modi and European Council president Antonio Costa shake hands during a joint press statement at the Hyderabad House in New Delhi, India. Photograph: Altaf Hussain/Reuters

The deal is one of the most comprehensive that India has ever signed and Narendra Modi emphasised that it represented about a third of global trade, calling it the “biggest free trade deal in history”.

“This agreement has brought massive opportunities for 1.4 billion Indians and millions of people in European countries,” he said. “It has become a wonderful example of synergy between two of the world’s major economies.”

Trade talks between the two countries began as far back as 2007 but were abandoned owing to disputes over access to cars, agriculture and dairy.

However, they were resumed again in 2022 and accelerated with gusto over the past six months in the face of heavy punitive tariffs by Donald Trump’s administration in the US and joint concerns over China’s monopoly over global manufacturing and the country’s restrictions on key exports.

According to officials, the formal signing of the deal will take place later this year and it could come into play by early next year.

Share

Key events

Closing summary

Jakub Krupa

Jakub Krupa

That concludes our live coverage for today.

  • India and the EU have finalised a landmark free trade agreement, which the European Commission president, Ursula von der Leyen, hailed as the “mother of all deals” (9:36, 9:43, 9:52).

  • The deal is expected to open up India’s vast and traditionally tightly guarded market to the 27 nations in the bloc, with a focus on manufacturing and the services sector (12:40).

  • Talks about the agreement accelerated with gusto over the past six months (10:13) in the face of heavy punitive tariffs by Trump’s administration in the US and joint concerns over China’s monopoly over global manufacturing (10:44).

In other news,

  • Europe has marked the International Holocaust Remembrance Day (16:59).

  • The prime ministers of Denmark and Greenland said they would visit Berlin and Paris today and tomorrow to shore up support over US president Donald Trump’s recent push to take over the Arctic island (11:09, 15:41, 16:30).

  • A unit of US immigration and customs enforcement agents (ICE) will have a security role in the upcoming Winter Olympic Games in Italy, sparking uproar and petitions against the deployment (11:56, 15:13).

And that’s all from me, Jakub Krupa, for today.

If you have any tips, comments or suggestions, email me at jakub.krupa@theguardian.com.

I am also on Bluesky at @jakubkrupa.bsky.social and on X at @jakubkrupa.

Share

Source link

Hot this week

Amazon AWS CEO Matt Garman pushes back against Elon Musk’s space data centers plan

Speaking at a tech conference in San Francisco on...

Mercedes Benz GLS long term review, 16,000km report – Introduction

While a Rs 1.3 crore (ex-showroom, India) luxury SUV...

Overnight Sourdough Discard Waffles | Love and Olive Oil

Your new favorite weekend brunch is here: made with...

Russian oil at Indian ports after Trump says trade vow to stop buying

The oil tanker "Grinch" (R), suspected of belonging to...

Topics

Tight fiscal room won’t affect infra creation capex: Expenditure secy

New Delhi: The government will continue to prioritise infrastructure...

TVS Ntorq 150 road test, review – Introduction

If you already own a 125cc scooter and are...

Olympic Figure Skater Barred from Using Minions Music at 2026 Games

Tomàs-Llorenç Guarino Sabaté has gone viral in the figure...

Perfect Cheddar Chive Scones with hot honey butter

These cheddar chive scones are big, flaky, and full...

‘Pay and smile’ – Rome visitors face Trevi Fountain charge

Rome has introduced a €2 fee to access the...

Growing Your Business with Chat Bots

Marketing Podcast with Andrew WarnerPodcast Transcript My guest for this...
spot_img

Related Articles

Popular Categories

spot_imgspot_img