‘India comes out on top’: Trump’s trade chief Greer says India-EU trade deal benefits Delhi

US President Donald Trump’s trade representative Jamieson Greer has said that India has come out on top after the India-EU trade deal and will benefit from more access to the European markets. “I think India comes out on top on this, frankly. They get more market access in Europe. It sounds like they have some additional immigration rights. I don’t know for sure, but President von der Leyen of the EU has talked about mobility for Indian workers into Europe. So I think on net, India’s gonna have a heyday with this. They have low-cost labour,” Greer said in an interview with Fox Business.

India and the European Union announced a free trade agreement on Tuesday, while a stalemate continues between New Delhi and Washington over a deal.

“I think India comes out on top on this. Frankly, they have more market access into Europe,” Greer said.

‘EU is doubling down on globalisation’

Greer also appeared to take a dig at the EU and said, “It looks like the EU is doubling down on globalisation when we’re trying to fix some of the problems with globalisation here in the US.”

Speaking about the India-US trade deal, Greer said India has more work to do to satisfy US concerns about its purchases of Russian oil.

Also Read: 'Next attack will be far worse': Trump warns Iran of Armada in new social media threat

The US trade representative said that New Delhi has “made a lot of progress” on curbing buys of Russian crude, “it’s hard for them” to completely wean off the supplies because “they like the discount that you get from Russian oil”.

“I am in frequent contact with my counterpart in India. I have a great working relationship with him, but they still have a way to go on this point,” he added, signalling that a deal has still not shaped up.

Donald Trump imposed 50 per cent tariff on India last year, arguing that India’s oil purchases were fuelling Russia’s war effort in Ukraine.

US and Indian officials have been negotiating for months over an agreement to lower the tariff.

Discounted Russian crude continues to make up a significant portion of Indian imports.

Also Read: ‘Carney is sorely mistaken’: Trump threatens Canada with 100% tariff if it strikes trade deal with China

India and EU strike ‘mother of all deals’

India and the European Union reached a free trade agreement, termed the ‘mother of all deals’ by the head of the EU's executive branch, on Tuesday. The deal will see free trade on almost all goods between the EU’s 27 members and India, covering everything from textiles to medicines, and bringing down high import taxes for European wine and cars. The pact, which will account for almost a quarter of global GDP, will eliminate tariffs on 99 per cent of Indian exports to the EU while cutting duties on over 97 per cent of the EU’s exports to India.

The deal between two of the world’s biggest markets comes as the Trump administration targets the EU bloc and the Asian powerhouse with steep import tariffs, disrupting trade flows and pushing economies to seek alternate partnerships.

Also Read: Trump aide Scott Bessent hints at US removing 25% tariffs on India over Russian oil purchase

“This agreement will bring major opportunities for the people of India and Europe. It represents 25 per cent of the global GDP and one-third of global trade,” Prime Minister Narendra Modi said in a virtual address to an energy conference.

Apart from the trade pact, India and the EU also agreed on a framework for deeper defence and security cooperation and a separate pact aimed at easing mobility for skilled workers and students.

The negotiations to finalise the India-EU deal got a new impetus after Trump’s strong-arm trade tactics, including threatening European allies with punitive tariffs over their objections to his threats of taking control of Greenland.