The EU and India signed a landmark trade agreement as both look to bolster commercial alliances amid threats from Washington.
The EU expects to double exports to India by 2032 as part of the deal, which was negotiated for two decades, while Delhi, subject of 50% tariffs from Washington, anticipates EU-bound exports to soar. “We have concluded the mother of all deals,” the European Commission president said.
US President Donald Trump’s threats have instilled a sense of urgency in the EU, which has accelerated talks with several trading partners.
Washington, meanwhile, remains steadfast in using its economic weight to extract concessions from allies: On Monday Trump announced 25% duties on South Korea for “not living up” to an agreement.
