India-EU trade deal details: Tariffs of up to 44% on machinery, 22% on chemicals, 11% on pharmaceuticals will be mostly eliminated; tariffs on over 90% of EU goods exports will be eliminated or reduced

• Tariffs on EU beer cut to 50%
• Tariffs on EU wine cut to 20-30%

The details of the India-EU trade deal signal a significant reduction in tariffs, which could enhance trade flows between the two economies. The elimination or reduction of tariffs on over 90% of EU goods exports means potential cost savings and increased competitiveness for EU products, impacting the broader trade landscape and possibly affecting currency flows as well.