India and the United Kingdom agreed to implement their free trade agreement on July 15 after London addressed India's concerns about higher U.K. steel tariffs set to take effect on July 1, Reuters reported on June 17. India's commerce and industry ministry said 85% of the country's exports will be unaffected by the new steel tariffs and that those affected will enjoy carve-outs, although the British government did not confirm the latter.

Implementation of the India-U.K. trade deal faced new headwinds when the United Kingdom announced in March its intent to impose a new steel tariff regime intended to protect its domestic steel industry. The United Kingdom's decision to do so followed similar tariff hikes by the European Union and the United States, which bumped steel tariffs outside quotas to 50%, though the United Kingdom received a more favorable rate of 25% from the United States.