economy
January 27, 2026
US allies aim for major trade agreements with next-best economies
Irked by President Donald Trump’s constant tariff threats over the past year, several U.S. allies are moving to secure major trade agreements with the world’s next-best economies.
TL;DR
- The European Union and India have signed a new free trade deal.
- The agreement reduces tariffs on exports from both the EU and India.
- India will reduce or eliminate tariffs on nearly 97% of EU exports.
- The EU will phase in tariff reductions covering almost 99% of Indian exports.
- This deal aims to decrease the EU's reliance on the United States.
- The agreement is seen as a response to President Donald Trump's tariff threats.
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