00:00Nous avons délivré la mère de tous les deals.
00:05Nous avons créé un marché de 2 bilions de personnes, et c'est le changement.
00:10Nous avons créé un marché de deux géants, et en combinant ces strengths, nous avons créé un marché de 2 bilions.
00:15Nous avons réduit les dépendances stratégiques.
00:20Nous avons créé un marché de 2 bilions, et nous avons créé un marché de 1 bilions.
00:26Now joins us.
00:26Ali, what do we know about the contents of the agreement?
00:31Well, you heard it there from Ursula von der Leyen, the mother of all deals, and the EU really
00:34trying to take a victory lap.
00:36We'll be right back.
00:41It's notoriously one of the nations with very, very, very elevated trade barriers, and this
00:45goes some distance.
00:46So if we look at the actual numbers of what this will hopefully deliver, according to
00:50the...
00:51We'll be right back.
00:56We'll be right back.
01:01I should say that that figure is a little bit misleading because it is certainly going
01:04to reduce some of them and remove...
01:06Some of them, but again, when you're reducing barriers from 150%, that does not necessarily...
01:11eliminate them.
01:12The EU claims that it's going to double EU good exports to India by 2032...
01:16And I'll just go through a sort of snapshot of some of the things as targets for the Europeans.
01:20So car tariffs are at about...
01:21110% at their highest level.
01:23Those can go as low as 10%.
01:25They're going to abolish...
01:26They're going to abolish tariffs on car parts, machineries at 44%, chemicals at 22%, pharma...
01:31at 11%.
01:32Those will be mostly eliminated.
01:33We also are very concerned and concentrating...
01:36on the farmers and of course agriculture.
01:38The average tariffs on agriculture going into India are...
01:41over 36%.
01:42Those will come down.
01:43Wine, something for France there...
01:45150%.
01:46down to 75%.
01:47Eventually 20% olive oil, something for Italy...
01:50down to...
01:51from 45% to 0% over time.
01:54That being said, of course, one of the big concerns...
01:56for the European farmers is that their own sort of produce and their own products...
01:59are protected within Europe.
02:01and there are provisions for that within this agreement.
02:03For example, beef, chicken, rice, sugar are all...
02:06included from this trade agreement...
02:08and of course all this sort of health and safety standards for food products.
02:11will also have to be maintained from the European level.
02:13So again, the idea with many of these tariffs...
02:15they will not...
02:16go into effect on day one...
02:17they will go into effect over a progressive period of time...
02:20sometimes five years...
02:21times ten years...
02:22this still needs to clear the hurdle of the European Council, European Parliament...
02:25and some other sort of...
02:26legal amendments...
02:27but again, this is for the Europeans a major step forward...
02:29and again, a major signal to the...
02:31the President of the United States...
02:32that basically, multilateralism is not dead...
02:34and if you cannot trade with the United States...
02:36you're going to have to go and trade elsewhere.
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