UK Signs Trade Deal with India; Whisky Tariffs Down

India will reduce tariffs on whisky and gin from 150% to 75% with 40% by year 10, according to the UK government. There will be tariffs on UK car exports to India but tariffs on those cars will drop from 100% to 10%.  Many tariffs on Indian goods to the UK will be wiped out. UK companies can also bid to deliver Indian public sector services for the first time.

Marginal Gains as UK joins Pacific Trade Pact

The UK has joined the CPTPP an Asia Pacific trade pact that includes Australia.  It stands for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership first signed in March 2018. CPTPP countries accounted for 8% of UK exports in 2019. Mexico, Chile and Peru are the South and Central American nations currently part of this group.