An employee works at a steel processing production line of a factory in Mandi Gobindgarh in the northern state of Punjab, India. President Donald Trump hiked steel and aluminium duties earlier this month. - Reuters
NEW DELHI: India has started negotiations on a free trade deal with New Zealand as the countries seek to strengthen economic ties amid rising uncertainty in global trade.
India’s Minister for Commerce and Industry Piyush Goyal met Todd McClay, New Zealand’s Minister for Trade and Investment on Sunday (March 16), according to a statement released by the Press Information Bureau. The negotiations aim to achieve better market access and enhanced supply chain integration.
India is among nations that face an increase in US tariffs from next month. President Donald Trump is set to impose blanket reciprocal tariffs on April 2 that will affect industries beyond steel and aluminium where duties were already hiked earlier this month.
New Zealand joins other nations in trying to hammer out free trade agreements with India. The EU and India aim to conclude a deal this year, while the UK and the South Asian nation tried to revive long-running trade negotiations earlier this year. - Bloomberg
