India and the European Union have signed a landmark free trade agreement after nearly 18 years of stop-start negotiations, in what European leaders are calling the “mother of all trade deals.” The timing is critical. India is currently facing steep 50 per cent tariffs on key exports to the United States, while Europe is under fresh tariff threats from President Donald Trump amid disputes involving Greenland and wider security concerns. Who benefits from the trade deal the most? Here is all you need to know. 

India and the European Union are on the verge of sealing a landmark Free Trade Agreement, marking a historic shift in global trade dynamics. However, the deal has triggered sharp criticism from the United States, with Trump aide Bessent accusing the EU of double standards. In a recent interview with ABC News, Bessent claimed that the US has made larger sacrifices than Europe in the Russia-Ukraine conflict, pointing to 25&#37 tariffs on India for Russian oil purchases while Europe negotiates a major trade deal with India. WATCH