Global Trade Landscape Shifts: EU, India, China, US Relaunch FTA Talks
The global trade landscape is shifting rapidly, with several major regions and countries relaunching or advancing negotiations on free trade agreements (FTAs). In Europe, India and the EU have restarted talks, aiming to conclude an agreement by the end of 2025. Meanwhile, the EU is updating its FTA with Mexico and has launched negotiations with the UAE. The EU also plans to sign a deal with Mercosur by the end of 2025, which could remove tariffs worth €4 billion on EU goods. In Asia, China, Japan, and South Korea have agreed to cooperate closely on a proposed trilateral FTA. India, which currently does not have an FTA with China, has initiated negotiations with the US and China in 2025. India's trade pact with EFTA will take effect on October 1, 2025. Indonesia and the EU have concluded an FTA that will cut €600 million of duties from EU exports. The UAE, which has signed trade deals with Kenya, Malaysia, and New Zealand, is negotiating with several other countries, including the EU, Japan, China, Korea, Australia, Pakistan, India, Turkey, and Mercosur. Mercosur, a South American trade bloc, is also actively negotiating with EFTA, Canada, and expects to advance talks with India, Indonesia, Japan, and Vietnam. These developments indicate a surge in global trade negotiations, partly driven by the US's past tariff policies. As countries and blocs seek to strengthen economic ties, the coming years promise significant changes in international trade dynamics.
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