Global Trade Deals Surge as US Lags Behind

Indian Prime Minister Narendra Modi has been busy making new trade deals with countries around the world, particularly in Asia and Europe. In an effort to diversify India's economy and reduce its reliance on any one country, Modi has pursued over 20 high-level meetings with leaders from nations such as France, Germany, Norway, South Korea, New Zealand, Malaysia, Slovakia, Italy, and Uzbekistan.

These deals include agreements for submarine technology from Germany, student visas from France, and cheaper Scotch whisky from the UK. India has also secured a major free trade agreement with the European Union, which will eliminate or reduce tariffs on various products including European cars and wine. Additionally, Modi's government has signed a deal with the UK to slash duties on alcohol.

Meanwhile, Canadian Prime Minister Mark Carney has been rapidly expanding Canada's global trade network in 2026, securing or advancing major deals across Asia, South America, and Europe. This includes a comprehensive economic partnership agreement with the UAE, which will dramatically lower or remove tariffs across various industries, as well as a free trade agreement with Indonesia that will eliminate or reduce tariffs on over 95% of Canadian exports.

Both Modi's and Carney's efforts reflect a global trend towards diversifying trade relationships in response to uncertainty and protectionism under the current US administration. Unlike President Trump, who tends to rely on coercion and force to secure deals, these leaders have adopted a more inclusive and collaborative approach to trade.