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UK and India sign groundbreaking trade agreement amidst Trump’s tariffs
On May 6, India and the United Kingdom sealed a significant free trade deal, marking a milestone in post-Brexit trade relations. The agreement, which had been years in the making, aims to boost trade between the two nations by £25.5 billion ($34 billion) by 2040. It promises expanded market access and reduced trade barriers between the world’s fifth and sixth largest economies.
Indian Prime Minister Narendra Modi emphasized the deal’s role in strengthening the nations' comprehensive strategic partnership, fostering trade, investment, and innovation. The agreement includes tariff reductions on products such as whisky, advanced manufacturing components, lamb, salmon, chocolates, and biscuits, along with import quotas for automobiles on both sides.
The deal comes as both countries seek to negotiate with the U.S. to remove tariffs imposed under President Donald Trump, which have disrupted global trade. British Prime Minister Keir Starmer described the agreement as part of a broader strategy to revitalize the UK economy by reducing trade barriers and building stronger international alliances.
The trade pact also signals India's willingness to open previously protected markets, including automobiles, setting the stage for future trade relationships with the U.S. and the European Union. The negotiations, which began in January 2022, represent Britain’s ambitions for an
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