Current Affairs - International

The new EU-US trade agreement, finalised after prolonged negotiations, imposes a 15% tariff on EU exports to the United States. This rate is a compromise, significantly lower than the 30% tariff previously threatened by the US administration. The deal marks a major step in stabilising transatlantic trade relations and aims to prevent further escalation into a trade war. While the US retains certain high tariffs on global steel and aluminium, the 15% rate on EU goods is part of a broader agreement that includes tariff-free access for specific American exports and major European investments in the US energy and manufacturing sectors.

The World Health Organisation (WHO) launched the ‘Global SPECS 2030’ initiative with the aim of making eyecare services accessible and affordable for everyone by the year 2030. The initiative focuses on addressing refractive errors such as myopia and hyperopia, which impact millions globally. It brings together a network of stakeholders committed to improving public health through coordinated advocacy, policy efforts, and collaborative actions. This initiative is part of WHO's broader vision to eliminate avoidable vision impairment and integrate eye health into universal health coverage frameworks, ensuring eye care becomes a fundamental part of global health strategies.

The United Kingdom signed a 50-year defence treaty with Australia known as the Geelong Treaty, under the AUKUS alliance. This long-term bilateral agreement focuses on cooperation in nuclear-powered submarine capabilities and reflects a strategic alignment between the two nations, even as the United States reviews its own role in the alliance. Signed in Geelong, Victoria, this pact underscores a solid commitment to deepening defence ties and advancing shared security goals in the Indo-Pacific region. It also highlights the UK's active participation in strengthening its defence partnerships post-Brexit, particularly within key alliances like AUKUS.

Sri Lanka has decided to expand its free visa policy to include citizens from 40 countries as a strategy to boost tourism and support its ongoing economic recovery. The policy, which has already been in effect since March 2023 for countries like India, China, Russia, Indonesia, Thailand, Malaysia, and Japan, received recent cabinet approval for broader implementation. By easing entry requirements for tourists, Sri Lanka aims to attract more international visitors and generate vital foreign exchange, which plays a crucial role in revitalising its post-crisis economy and strengthening the tourism sector.

During Prime Minister Narendra Modi’s visit to the Maldives, India and the Maldives signed four Memorandums of Understanding (MoUs) and three agreements covering key areas such as fisheries and aquaculture, digital solutions, and the recognition of the Indian Pharmacopoeia. The visit also marked the celebration of the 60th anniversary of the Maldives’ independence. Additionally, India extended a Line of Credit worth ₹4,850 crore to support various developmental projects in the Maldives. These initiatives highlight the strategic and diplomatic significance of India’s relationship with the island nation in the Indian Ocean region.