Washington: A day after India and the European Union concluded what is being billed as the mother of all trade deals, US Trade Representative Jamieson Greer said the landmark Free Trade Agreement positions India strongly amid shifting global trade dynamics driven by the United States’ new economic approach.
Asked for his impression of the India-EU Free Trade Agreement in a Fox Business interview, Greer placed the deal in the context of President Donald Trump’s push to prioritize domestic production and restrict unfettered access to the American market.
“First of all, strategically, it’s important to understand that because President Trump has prioritized domestic production and essentially started charging a fee for other countries to access our market, these countries are trying to find other outlets for their overproduction,” Greer said.
He said this shift has forced major trading partners, particularly the European Union, to seek alternative export destinations.
“And so the EU is turning to India to try to find a place,” Greer said. “The EU is so trade dependent, they need other outlets if they can’t keep sending all their stuff to the United States,” he added.
Greer said he had reviewed details of the newly announced India-EU agreement and concluded that New Delhi stands to gain significantly from the deal. “I’ve looked at some of the details of the deal so far. I think India comes out on top on this, frankly,” he said.
According to Greer, enhanced access to European markets is a central benefit for India under the agreement.
“They get more market access into Europe,” he said, suggesting that the scale of the deal reflects Europe’s growing need to secure trade flows beyond the United States.
Greer also pointed to possible labor-related provisions that could further strengthen India’s position, while noting that some elements are still being clarified.
“It sounds like they have some additional immigration rights,” he said. “I don’t know for sure, but President (Ursula) von der Leyen of the EU has talked about mobility for Indian workers into Europe,” he added.
Taken together, Greer said, the agreement could usher in a period of significant economic opportunity for India. “So I think on net, India is going to have a heyday with this,” he said, citing India’s competitive advantages. “They have low-cost labor.”
By contrast, Greer described the EU’s approach as a renewed embrace of globalization at a time when Washington is seeking to recalibrate its own trade policies.
“It looks like the EU is doubling down on globalization when we’re trying to fix some of the problems of globalization here in the US,” he said.
The India-European Union Free Trade Agreement represents one of the most ambitious trade pacts negotiated by either side, covering a vast market and reflecting years of negotiations aimed at deepening economic integration.
(IANS)
