Under the impression of Donald Trump’s US tariffs, Great Britain and India have agreed on a far-reaching free trade agreement. For the British, the agreement announced on Tuesday means, among other things, significantly lower tariffs for exports the former British colony.
Prime Minister Keir Strander spoke of a “groundbreaking agreement”. India benefits, among other things, through low tariffs on clothing. According to the BBC, the trading volume of both countries was £ 41 billion last year, and the agreement is expected to increase with a significant increase.
Comprehensive market access
The agreement ensures comprehensive market access for goods across all areas, the Indian government said. Prime Minister Narendra Modi described the agreement on the platform X as “historical milestone”. He expressed his hope that the agreement together with the agreement on a three -year liberation of social security contributions for Indian employees: inside in Great Britain who worked there for a while, as well as their employers will not only favor bilateral trade, but also investments, growth and creation of jobs.
The tariffs announced by Trump had also met Great Britain. So far, the British hopes have not fulfilled their own agreement with the United States.
India also hopes to be able to conclude a trade agreement with the USA – if possible, this year. Trump had charged special tariffs for Indian products to 26 percent, but then suspended 90 days as with almost all countries.