BERLIN: European carmakers, squeezed by US tariffs and price wars in China, will get a welcome boost from an EU-India trade deal that sharply drops tariffs on car imports, but face a tough market dominated by homegrown firms and compact Japanese ‘kei’ cars.
India and the European Union signed a trade deal on Tuesday, including slashing tariffs on imports of EU-made cars to 10 percent from as high as 110 percent, the biggest opening yet of India’s vast market for Volkswagen and Renault. The move, however, only edges the door open,…