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India-UK Trade Deal Hits Surprise Steel Roadblock | Can The Deadlock Be Broken?

India-UK Trade Deal Hits Surprise Steel Roadblock | Can The Deadlock Be Broken?

Business Today
Business Today
  • New Delhi,
  • May 19, 2026,
  • Updated May 19, 2026, 1:15 PM IST

The historic India-UK Free Trade Agreement (CETA) was all set to launch this month, but a sudden dispute over steel has put the finish line out of reach. In this exclusive breakdown, we look at why Britain’s new protectionist safeguard measures- slashing tariff-free steel quotas by 60% and slapping a massive 50% penalty tariff from July 2026 have raised serious alarms in New Delhi. With nearly $900 million worth of Indian iron and steel exports at stake, Commerce Secretary Rajesh Agarwal confirms both nations are rushing to find a "creative solution." Can they unlock the $120 billion bilateral dream?

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