‘The mother of all trade deals’: EU and India sign landmark trade agreement – Europe live

Wide-ranging deal will cut tariffs to zero over seven years as Modi hails ‘largest free trade agreement’ in India’s historyGermany has rushed to welcome the deal, saying it could support growth at a time of increasingly challenging ties with other major economies, AFP reported.“This agreement creates new opportunities for growth and good jobs – in Europe and India alike – while deepening the strategic partnership with the world’s largest democracy,” said Lars Klingbeil, Germany’s finance minister.“For example, tariffs on cars will gradually go down from 110% to 10% with a quota of 250,000 vehicles a year. High tariffs of up to 44% on machinery, 22% on chemicals and 11% on pharmaceuticals will be mostly eliminated.” Continue reading...