JUST IN: 🇪🇺🇮🇳 European Union and India officially announce free trade agreement. https://t.co/QpxK6Q3jDp ...

India and the European Union have agreed on a free trade agreement, Prime Minister Narendra Modi said on Tuesday. The agreement would lower tariffs on most consumer and industrial goods traded between India and EU members, although it’s expected to exclude some agricultural products. The EU would also get enhanced market access for its car exports subject to a cap. The conclusion of negotiations after nearly two decades of halting talks reflects the rapidly shifting global alignment under US President Donal ...

Market Overview - Asia-Pacific markets exhibited mixed trading patterns, with a notable increase in gold prices as investors sought safe-haven assets amid geopolitical uncertainties [1] - Spot gold prices reached a record high of over $5,000 per ounce, specifically trading at $5,033.99 per ounce as of 7:52 a.m. Singapore time [1] Trade Relations - Canadian Prime Minister Mark Carney announced that Canada will not pursue free trade agreements with China without prior notification, in response to U.S. President Donald Trump's warning of a 100% tariff if Canada engages in a trade deal with China [2][3] - Carney emphasized Canada's commitment under the Canada-United States-Mexico Agreement (CUSMA) to notify before pursuing free trade agreements with non-market economies [3] Regional Market Performance - Japan's Nikkei 225 index decreased by 1.52%, while the Topix index fell by 1.76% [3] - In contrast, South Korea's Kospi index increased by 0.64%, and the small-cap Kosdaq index rose by 2.28% [3]

Core Insights - India's recent free trade agreements (FTAs) may not sufficiently counteract the negative impact of US tariffs on its exports, particularly in labor-intensive sectors like textiles and apparel [1][9] - The US remains India's largest export market, accounting for 19.3% of total exports prior to the imposition of tariffs, which are among the highest globally at 50% [9][10] - The uncertainty surrounding trade negotiations has pressured the Indian rupee and led to a $5 billion expenditure by the government to support exporters [9][10] Trade Agreements and Economic Impact - Many of the newer FTAs, such as those with Oman and New Zealand, are unlikely to significantly boost India's exports due to relatively small trade volumes [2][9] - Of India's top 20 export markets, 16 have FTAs or are in negotiations, collectively representing 51% of total trade [5][10] - The effectiveness of these agreements in translating into tangible export growth remains uncertain, particularly regarding their potential to strengthen India's industrial base [6][10] Future Prospects - The anticipated India-EU FTA is viewed as a significant opportunity for export diversification and increased trade openness with a large economic bloc [8][10] - Upcoming visits by European Commission and Council leaders to India may enhance the likelihood of finalizing the trade agreement after prolonged negotiations [8][10] - Approximately 70% of India's exports to the US are at risk if the 50% tariffs continue, with sectors like leather, apparel, and marine exports being particularly vulnerable [10]

Amid deepening strategic ties and discussions around Free Trade Agreement (FTA) between India and Israel gaining momentum, the State Bank of India (SBI), the only Indian bank with a presence in Israel, is looking to facilitate bilateral trade in Indian rupees."In view of India's significant trade flows from/to its partner countries and growing interest among the global trading community to trade in the Indian rupee, it has been envisaged by our banking regulators, i.e. Reserve Bank of India, to permit India ...

New Zealand has finalized a free-trade agreement with India, local media report https://t.co/DURI3ENnEh ...

Trade Agreement - India and Oman have signed a free trade agreement [1] - The pact eliminates tariffs on key goods [1] - The agreement simplifies market access [1] Strategic Implications - The agreement supports India's efforts to strengthen economic ties with the Middle East [1] - The agreement supports India's efforts to strengthen strategic presence in the Middle East [1]

The UK finalized a long-awaited free trade agreement with South Korea that the government said would boost exporters from automaker Bentley to beverages firm Diageo https://t.co/LIEHlMoG0n ...

RT Wally Rashid (@wallyrashid)In 1984, the U.S. was negotiating a Free Trade Agreement with Israel.A classified memo listed American industries that would be harmed if duties were removed.@AIPAC then stole this document and sent it to Israeli officials, to hurt America's economy while benefiting Israel. https://t.co/Oj5NaMbpu2 ...

RT Wally Rashid (@wallyrashid)In 1984, the U.S. was negotiating a Free Trade Agreement with Israel.A classified memo listed American industries that would be harmed if duties were removed.@AIPAC then stole this document and sent it to Israeli officials, to hurt America's economy while benefiting Israel. https://t.co/Oj5NaMbpu2 ...