India Forges Trade Deals with EU and Others as Counter to US Tariffs and Global Economic Uncertainty

India is paying a 50 percent tariff to sell its goods in the United States, while only 15 percent in the 27 countries of the European Union (EU).Meanwhile, India and the EU have announced a 'Free Trade Agreement' (FTA), which is being seen as a message to the United States. The US has appeared aggressive regarding this development. US Treasury Secretary Scott Bessent said on January 24, 'Our allies in Europe refused to impose tariffs on India in exchange for buying oil from Russia, because they had a major trade deal to make with India. Europe is helping itself against...