India Makes Trade Deals with US and EU
Prime Minister Narendra Modi made a deal with the United States. The deal cuts taxes on Indian goods.
Politicians from Modi's ruling coalition praised the deal. Rival parties question how it affects farming.
India also made a new trade deal with the European Union. German cars have barely entered the Indian market. The European Union deal may help German cars sell better in India.
Klear Note — Tariffs are taxes on goods from other countries. Lower tariffs make Indian products cheaper for Americans to buy. Trade deals help countries sell more goods to each other.
Key Terms 4
- Prime Minister The top leader of a country's government.
- Tariffs Taxes that countries put on goods bought from other countries.
- Trade deal An agreement between countries to buy and sell goods more easily.
- Ruling coalition The group of politicians in power who work together to lead the country.