EU-India Finalize Historic Trade Deal to Slash Tariffs on 97% of Goods

EU and India finalized a historic free trade agreement to eliminate or reduce tariffs on approximately 97% of traded goods after two decades of negotiations.The deal will slash European automotive tariffs from 110% to 10% and aims to boost Italian exports to India to €20 billion by 2029.While USA Treasury Secretary Scott Bessent criticized the move, global markets reacted positively as stocks reached record highs following the announcement.