European Union Finalizes Major Trade Pact With India Amid Strong Opposition From Washington
The European Union finalized a trade pact with India to slash tariffs on most goods. US Treasury Secretary Scott Bessent criticized the move on Wednesday.
On Wednesday, January 28, 2026, the European Union 
EUfinalized a long-delayed trade agreement with India 
INthat eliminates or reduces tariffs on 96.6% of traded goods by value. This landmark deal is aimed at boosting two-way trade and reducing the reliance of the bloc on the United States 
USamid shifting global economic dynamics. Officials from the European Unionstated that they expect the agreement to double exports to Indiaby 2032, providing an estimated 4 billion euros in duty savings for European companies.
EUfinalized a long-delayed trade agreement with India INthat eliminates or reduces tariffs on 96.6% of traded goods by value. This landmark deal is aimed at boosting two-way trade and reducing the reliance of the bloc on the United States USamid shifting global economic dynamics. Officials from the European Unionstated that they expect the agreement to double exports to Indiaby 2032, providing an estimated 4 billion euros in duty savings for European companies.The move has sparked a sharp reaction from the United States, where Treasury Secretary Scott Bessent scott bessentsaid he was disappointed by the decision to strike a major agreement with India. Speaking to CNBC, Scott Bessentstated that Europe has been purchasing refined products made in Indiawith sanctioned oil supplies from Russia 
RU. These comments come as Western nations continue to monitor energy exports from Russiaduring the conflict in Ukraine 
UA.
RU. These comments come as Western nations continue to monitor energy exports from Russiaduring the conflict in Ukraine UA.
