📦Global Trade Wars and Deals!


Trump's Tariffs Shaking Up Global Trade

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So it looks like Trump’s tariffs have motivated BRICS countries to make major trade deals with other global powers.

First up is India and the European Union. After nearly two decades of on-and-off negotiations, India and the EU have finally reached a “landmark” free trade agreement.

The two sides finalised the deal on January 27. According to the European Commission, the trade deal removes or reduces tariffs covering roughly 97% of EU exports to India. The commission projects that exports to India will double by 2032, saving around 4 billion euros a year in duties. That’s US$4.7 billion.

For India, the deal is a lifesaver for its textiles and apparel industry, which was hit by steep US tariffs last year. The Trump administration imposed...


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