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However, concerns about a recession loom as many firms pause investment decisions due to policy uncertainty. The outlook remains clouded, with markets now bracing for volatility as the tariffs seem set to persist.
UK and India’s Historic Trade Agreement
In Europe, the UK and India announced a landmark free trade agreement aimed at fostering economic cooperation amidst increasing global protectionism. This deal, touted as the UK’s first significant trade pact since leaving the European Union, aims to slash tariffs on various goods, significantly impacting cosmetics, automobiles, and alcoholic beverages.