UK, India Sign New Free Trade Deal
The U.K. and India announced plans last week to officially sign their new free trade deal (see 2505070036), which is expected to reduce tariffs for a range of goods and make it "easier and cheaper" for British companies to buy…
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India's "best products," the U.K. said. The prime minister's office also said India’s average tariff on U.K. products will drop from 15% to 3%, saying whiskey producers will especially benefit from duties being "slashed in half," with further reductions over the next 10 years. The two sides signed a host of side letters under the agreement, and a 13-page document outlines the deal's chapter on customs and trade facilitation.