France and Germany, the biggest economies of the EU, have made no bones about their unhappiness with the EU-US trade deal. The French have been particularly vocal while the Germans, clearly unhappy, have been comparatively taciturn. Francois Bayrou described the deal as tantamount to ‘submission’ and a ‘dark day for Europe’ while Friedrich Merz said the agreement would ‘substantially damage’ his nation’s finances.

Trade deals with the US are a difficult proposition, with the threat of ever-increasing tariffs. For the EU, the deal is less than optimal, but it did give a temporary reprieve. While there is a lot still to be finalised, Emmanuel Macron is right that the EU was unable to leverage its largest single market. But trying to renegotiate the deal with the US may be something of a fool’s errand given Trump’s worldview. Instead, the EU should use this moment of reprieve to build new partnerships, particularly with emerging economies, leveraging the huge combined market to ensure trade continues to deliver on growth as it has in the past. The EU has inked deals with Mercosur and across Africa. India and the EU should prioritise finalising FTA.

It should not be just about inking trade deals. The EU must work with emerging economy partners to ensure global trade continues to deliver for all and pave the way for cleaner and more sustainable economies. As the largest single market and among the wealthiest economies globally, the EU needs to step up and take the lead in creating the web of partnerships that are fit for purpose and reflective of the reality of our times. India must do its part and be the partner that the world needs.