World India and the EU clinch the 'mother of all deals' in a historic trade agreement January 27, 20268:11 AM ET By The Associated Press Indian Prime Minister Narendra Modi (center) welcomes European Council President Antonio Costa (left) and European Commission President Ursula von der Leyen before their meeting in New Delhi, India, Tuesday. Manish SwarupAP hide caption toggle caption Manish SwarupAP NEW DELHI After nearly two decades of negotiations, India and the European Union announced Tuesday they have reached a free trade agreement to deepen economic and strategic ties.
KEY DETAILS:
• The accord, which the EU chief described as the "mother of all deals," could affect as many as 2 billion people.
• The deal between two of the world's biggest markets comes as Washington targets both India and the EU with steep import tariffs, disrupting established trade flows and pushing major economies to seek alternate partnerships.
• Business Trump threatens Canada with 100 tariffs over its new trade deal with China "This agreement will bring major opportunities for the people of India and Europe," India's Prime Minister Narendra Modi said in a virtual address to an energy conference.
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