00:01Workers assemble BMW cars at a plant in Bremen, Germany.
00:05After an India-EU trade deal was reached Tuesday,
00:08a greater number of these German cars could be on the roads of India in the next few years.
00:15As early as 2032, EU exports to India could double
00:19as both sides slash or abolish tariffs on most goods.
00:23The trade deal comes as countries worldwide become more wary of trade with the U.S.
00:27under President Trump's tariff regime.
00:30One research institute says the effect of the tariffs on Europe
00:33may be smaller than people expect.
00:36But with what they call a difficult partner,
00:38they say Europe needs to look elsewhere for deeper trade ties.
00:42We need to replace the problems in trade that we have with the U.S.
00:46India is an important market.
00:48It's 1.4 billion inhabitants.
00:52It may be an interesting and important source for rare earth and other raw materials.
00:59India's business sector seems stoked about the opportunities, too.
01:05Their goods are subject to a 50% U.S. tariff,
01:08partly due to their country's purchase of Russian oil.
01:11This is pretty much, as of now, the largest deal India has made.
01:16And probably it's going to help India gain foothold in areas like textiles
01:25where other similar countries were actually doing much more business.
01:31And the EU isn't the only economy weighing its options.
01:35Canada has been a particular target of unpredictable U.S. tariff threats,
01:39with Trump recently threatening a 100% tariff on Canadian goods
01:43if Ottawa and Beijing reach a free trade deal.
01:46Trade with the U.S. isn't completely off the table,
01:49but Carney says he stands firmly behind recent remarks
01:52at the World Economic Forum that the world order has fractured.
01:55And Canada is forging ahead with deals elsewhere,
01:58as Carney told Trump in a call.
02:01I explained to him our arrangement with China.
02:05I explained to him what we're doing,
02:0712 new deals on four continents in six months.
02:10He was impressed.
02:11And while Carney says a free trade deal with Beijing isn't in the cards,
02:15he is going to India in March
02:17to try and move forward trade talks stuck in limbo for two years.
02:21It's what Indian officials in Ottawa see
02:23as part of a global rush to strike new deals.
02:26Everybody in the world is getting their agreements done,
02:30because now we are living in a world where the natural rules-based order
02:35which had gave a certain certainty to the world
02:37is not functioning the way it should have functioning.
02:42The UK, too, is looking for new opportunities.
02:46Keir Starmer will be the first British Prime Minister to visit China in eight years,
02:50and just the latest in a string of Western leaders who've traveled to Beijing lately.
02:54The goal is a reset of ties strained over issues like espionage
02:58and Beijing's crackdown on Hong Kong democracy protests.
03:01Some stumbling blocks remain.
03:06China's controversial mega-embassy planned for a part of London
03:09that houses sensitive telecom infrastructure.
03:12And The Telegraph has reported that China hacked the phones of senior British officials.
03:17But while China poses security threats to the UK,
03:20closer business with China is in the UK's interests.
03:23Analysts see opportunities for both sides.
03:26From a UK perspective, as I say, it will be those areas where,
03:30A, the UK is in a really strong position.
03:32Our life sciences, professional services, green finance,
03:36and areas where also China is still receptive to foreign capital
03:40and might be open to considering market access reforms.
03:44The other question, obviously, is whether the UK wants to attract Chinese investment
03:49in those areas where it's China that increasingly excels.
03:52U.S. tariff policy has proven changeable,
03:54with Washington announcing an extra 10% tariff on South Korea on Tuesday,
03:59despite an already settled trade deal.
04:01And Trump now saying he will, quote, work something out with Seoul.
04:05With some like Carney seeing the world order shifting,
04:09trading partnerships and patterns of trade show signs of shifting too in the coming years.
04:14John Su and John Van Trieste for Taiwan Plus.
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