India-EU ‘mother-of-all deals’ accelerated by US’ protectionist agenda

CONVENTIONAL wisdom holds that Donald Trump’s US presidencies have fuelled global protectionism. Yet, as much as his “America First” agenda triggered a proliferation of measures such as US tariffs, it has indirectly spurred other nations to push forward with major new trade deals.

Since Trump’s re-election in November 2024, the evidence has mounted. Take the example of the 27-member European Union’s trade agreement with the Mercosur bloc (Argentina, Bolivia, Brazil, Paraguay and Uruguay) and Indonesia in Asean.

Beyond this, Brussels is negotiating with the Gulf Cooperation Council states in the Middle East and signalling closer engagement with the Comprehensive and Progressive Trans-Pacific Partnership bloc, which includes multiple Asean states such as Singapore.