India earlier this month signed a trade and economic partnership deal with the European Free Trade Association, which is expected to expand market access between the two sides and simplify customs procedures. The deal will make it “easier for Indian and EFTA businesses to expand their operations in the respective markets,” said the EFTA, which includes Iceland, Liechtenstein, Norway and Switzerland.

The Council of the EU on March 18 cleared the final hurdle to ratification of the EU-Chile bilateral trade agreement (see 2312050013), the council announced. After Chile completes its "internal ratification process" and the two sides have "communicated the completion of their respective internal procedures," the deal will take effect on "the first day of the third month following the date of notification," the council said.

The Indo-Pacific Economic Framework for Prosperity, even without its trade pillar completed, is moving toward implementation with the establishment of an IPEF Council that will meet annually. The council will consider proposals to negotiate new agreements, enhance trade or economic relations, or amend IPEF; consider other countries' interest in acceding to IPEF; and adopt its rules.

China and Honduras this month signed an early harvest free trade agreement after conducting three rounds of trade negotiations, China’s Ministry of Commerce said. “Both parties agreed to implement their respective domestic procedures and promote the early entry into force of early harvest arrangements,” the ministry said, according to an unofficial translation. “At the same time, we will accelerate the negotiation of the free trade agreement and strive to complete it as soon as possible.”

The U.K. halted talks on a free trade agreement with Canada, according to a post on the social media platform X by the British High Commissioner to Canada Susannah Goshko. A statement posted by Goshko, attributed to a U.K. spokesperson, said the British government reserves "the right to pause negotiations with any country if progress is not being made." The U.K. said it remains open to resuming talks "in the future to build a stronger trading relationship that benefits businesses and consumers on both sides of the Atlantic."

U.S. negotiators will travel to Kenya to have talks under the Strategic Trade and Investment Partnership at the end of the month. "The negotiators last met in person under the STIP in October 2023 in Washington, DC, and have continued to make progress in deepening mutual understanding and resolving differences," the Office of U.S. Trade Representative said. The discussions will cover agriculture, good regulatory practices and workers' rights, it said.

The U.S. says its "mini deal" approach is better than traditional free trade deals, because of their speed and focus on current problems, and while two trade experts didn't dismiss FTAs as a 20th-century tool, they acknowledged those advantages mean mini deals are here to stay.

Switzerland and India have reached an agreement on a free trade deal, Swiss Economy Minister Guy Parmelin announced on X, formerly Twitter. Parmelin said the two countries achieved "solutions to the main open issues of" the deal, which the two sides have been negotiating for years. "After 16 years of negotiations, we have reached agreement on the basic principles of" a deal he said, according to an unofficial translation. "So that this can be signed as soon as possible, our teams are working hard to clarify the last outstanding details."

Both Asian countries and American businesses had hoped that the Indo-Pacific Economic Framework could be a step on the road to lowering tariffs, trade experts said during a webinar on the future of IPEF, but now they're wondering if there will be any economically significant effect at all from talks about trade facilitation, green transition and supply chain resilience.

India and the U.S. should aim for "economically meaningful outcomes" from better customs and trade facilitation, supply chain linkages, trade in high-tech products and trade in critical minerals between the two countries, India's commerce minister and U.S. Trade Representative Katherine Tai said in a joint statement.