Topic
Trade Policy
Trade Global wheat rally revives India's export prospects as government allows 5 million tonnes of exports
India has authorised the export of 5 million tonnes of wheat after a four-year ban, according to the Economic Times. The decision follows a global wheat rally and a domestic surplus of 57.8 million tonnes in the central pool. The government had previously allowed an additional 2.5 million tonnes in April 2026.
Trade US Imposes 10% Tariff on India Under Forced Labour Probe; Oil Prices Surge
The US Trade Representative has announced a permanent 10% additional tariff on India and 16 other countries under Section 301 for allowing imports of goods produced with forced labour. The levy, lower than the proposed 12.5%, replaces a temporary duty and is unlikely to have a major impact. Separately, Indian crude basket surged 11% to $103.33 per barrel amid supply disruptions.
Trade New U.S. Tariffs Target Imports From China, Mexico, Canada and 57 Other Economies
The Trump administration replaced its temporary 10% global tariff with a new Section 301 tariff regime covering 60 economies that account for 99.4% of U.S. imports. The duties, ranging from 10% to 12.5%, took effect July 24, 2026, and are based on forced labor investigations. Hundreds of product exemptions and tariff-rate quotas for textiles were also announced.
Trade India Reiterates Commitment to Open, Rules-Based Multilateral Trading System at WTO Review
India has reiterated its commitment to an open, inclusive, transparent and rules-based multilateral trading system during the final session of its Eighth Trade Policy Review at the WTO in Geneva. Commerce Secretary Rajesh Agarwal said WTO reform should remain development-oriented and preserve policy space for developing countries, while highlighting India's tariff reforms, customs simplification measures and FTA strategy.
Trade Canadian PM Mark Carney Rules Out Retaliatory Tariffs Before August 19 Deadline
Canadian Prime Minister Mark Carney stated that Canada will not impose retaliatory tariffs before the August 19 deadline set by US President Donald Trump's proposed 50% tariffs. He described advance retaliation as 'counterproductive' and emphasized ongoing negotiations. The tariffs target a broad range of Canadian exports, with an estimated impact of C$28 billion annually.
Trade US Imposes Fresh Tariffs of Up to 12.5% on 60 Economies Over Forced Labour; India Gets Lower 10% Rate
The Trump administration announced new tariffs of 10% and 12.5% on imports from 60 economies under Section 301 of the Trade Act of 1974, targeting countries with inadequate forced labour enforcement. India secured the lower 10% rate following recent policy changes. The tariffs take effect July 3, 2026, replacing temporary global duties.
Trade US Imposes New Tariffs on 60 Trading Partners Over Forced Labour Claims
The United States is imposing new tariffs on imports from approximately 60 trading partners over allegations of inadequate action against forced labour. Duties range from 10% to 12.5% and target key economies including the UK, EU, Canada, Japan, and India, effective Friday. Canada faces additional 50% duties on some goods. The move escalates the global trade war reignited by President Donald Trump.
Trade WTO Nations Query India’s PLI, QCO, Import Substitution; New Delhi Defends Public Policy Objectives
At India's Trade Policy Review, 44 WTO members submitted over 1,090 written questions, with more than 700 answered before the meeting. Concerns focused on predictability and transparency of India's PLI schemes, QCOs, import substitution policies, and other trade measures. New Delhi defended its policies as legitimate public policy objectives.
Trade Trump's Phased Tariff Plan on Generic Drugs: 0% for Two Years, Then Up to 200%
President Donald Trump announced a phased tariff plan on imported generic medicines, with zero tariffs for two years from August 1, 2026, followed by 100% for one year and 200% thereafter. The move targets India, which exported $9.7 billion in pharmaceuticals to the US in 2025, accounting for 38% of its total pharma exports. Indian generics supply 47% of US prescriptions and saved the US healthcare system $219 billion in 2022.
Trade Trump Announces 0% Tariff on Generic Medicines for Two Years; 200% Thereafter
President Trump has announced a 0% tariff on generic medicines for two years, followed by a 200% tariff thereafter, according to Business-Today. The report, dated July 22, 2026, provides no further details on scope, effective date, or enforcement bodies.
Trade Trump Prepares New Tariff Wave as India Trade Deal Stalls, Threatening Market Access
President Donald Trump is set to impose new tariffs on up to 60 countries, including India, as a temporary 10% tariff expires Friday. A bilateral trade deal with India remains deadlocked over market access and tariff concessions, while Canada faces a 50% tariff unless it removes alleged barriers.
Trade India's Growth Strong but Trade Barriers Threaten 2047 Goal: WTO Trade Policy Review
A WTO Trade Policy Review report highlights India's strong economic growth as the fastest-growing G20 economy, with GDP projected at 6.8-7.2% for FY2027-28. However, it warns that structural challenges including high trade costs, tariffs, and regulatory complexity must be addressed for India to achieve its Viksit Bharat vision of becoming a developed nation by 2047. The report notes India's record exports of $863.1 billion in 2025-26 and a strategic shift towards free trade agreements.
Trade Trump Imposes 50% Tariffs on Canadian Goods Retaliating for US Farmer Treatment
US President Donald Trump has imposed a 50% tariff on a wide range of Canadian imports, citing unequal treatment of US farmers, cars, dairy, and alcohol. The White House confirmed the duties will take effect in 30 days, marking a major escalation in trade tensions.
Trade WTO Urges India to Cut Reliance on Trade-Restrictive Measures, New Delhi Flags Global Non-Tariff Barriers
The WTO's 8th Trade Policy Review for India urges New Delhi to reduce reliance on high tariffs, import/export controls, and state trading enterprises. India counters by flagging rising non-tariff measures by trading partners that constrain its market access. The TPR meeting is scheduled for July 21 and 23.
Trade India Targets 10% Share in Global Merchandise Exports by 2047: WTO Report
India aims to increase its share of global merchandise exports from about 1.8% in 2024 to around 10% by 2047, according to a WTO report. The report highlights export promotion under the Viksit Bharat vision, India's stance on WTO reform, and recent customs duty changes eliminating the highest rates.
Trade Canada Vows to Protect Workers After Trump Imposes 50% Tariffs on Select Canadian Goods, Calling It a 'Direct Violation' of CUSMA
Prime Minister Mark Carney condemned President Trump's new 50% tariffs on select Canadian goods as a direct violation of CUSMA. The tariffs target motor vehicles, dairy, and alcoholic beverages, set to take effect in 30 days, with exemptions for energy, potash, fish, and critical minerals. Canada pledges to support workers and remains open to negotiations.
Trade Trump Imposes New 50% Tariffs on $20 Billion in Canadian Imports Using Section 338
President Trump on Monday announced new 50% tariffs on roughly $20 billion worth of Canadian imports using Section 338 of the Tariff Act of 1930. The duties, effective in 30 days, target Canadian goods after allegations of discrimination against U.S. autos, dairy, and alcohol. Exemptions include energy, critical minerals, and products already covered under Section 232.
Trade India and UAE Ministers Hold Talks to Strengthen Trade and Investment Ties in New Delhi
Union Minister Piyush Goyal held a meeting with UAE Minister Abdulla bin Touq Al Marri in New Delhi to explore avenues for strengthening bilateral ties. Discussions covered trade, investment, tourism, and connectivity, reaffirming a shared commitment to unlock new opportunities for businesses and enhance people-to-people ties.
Trade India Deposits Instrument of Acceptance for WTO Agreement on Fisheries Subsidies on 20 July 2026
India deposited its Instrument of Acceptance of the WTO Agreement on Fisheries Subsidies on 20 July 2026, becoming a party to the pact. The agreement, adopted in June 2022 and effective from September 2025, prohibits subsidies for illegal, unreported and unregulated fishing and for overfished stocks. It disciplines harmful subsidies for industrial fishing fleets, benefiting small-scale fishers in India, while aquaculture and inland fisheries remain outside its scope.
Trade India’s edible oil industry flags 17-fold surge in Nepal imports, seeks policy review
India’s edible oil imports from Nepal have surged more than 17-fold in two years, from 47,295 tonnes in 2023 to over 804,000 tonnes in 2025, according to the Indian Vegetable Oil Producers' Association (IVPA). The industry body is urging a comprehensive policy review under SAFTA, citing duty-free imports that are shifting refining activity outside India and causing an estimated customs revenue loss of ₹2,000–2,500 crore. IVPA President Sudhakar Desai called for stronger verification of Rules of Origin and a review of tariff structures to safeguard domestic value addition.
Trade Downstream aluminium industry urges duty cut on primary aluminium and scrap to restore competitiveness
Downstream aluminium manufacturers have urged the Centre to reduce customs duty on primary aluminium and aluminium scrap, stating the current duty structure is hurting MSME competitiveness. In a joint representation to the mines ministry, industry bodies cited an effective import duty of 8.25% on primary aluminium and 2.75% on scrap, which has compressed margins by up to 70% and pushed input costs up 20-35% in the last three months. The associations also flagged the EU's Carbon Border Adjustment Mechanism as a future threat.
Trade Textile sector to sew loose ends as FTAs kick in
The operationalisation of the UK-India free trade agreement eliminates tariffs up to 12% on textile exports, bringing parity with competitors. Industry body Indian Texpreneurs Federation expects exports to double to a 12% share in 4-5 years, but experts caution about structural challenges.
Trade India-EU Investment Protection Pact, GI Agreements Work in Progress: Piyush Goyal
Union Commerce Minister Piyush Goyal stated that the India-EU investment protection pact and geographical indications agreements are work in progress. Speaking at the India-Estonia Business Forum, he highlighted that trade pacts with the UK, EFTA, and the EU now effectively connect India to the entire European market, opening huge opportunities for businesses on both sides.
Trade India-UK FTA Unlikely to Significantly Hurt Domestic Consumer Brands, Industry Leaders Say
Industry leaders including Amul and Britannia say the India-UK Free Trade Agreement is unlikely to significantly hurt domestic consumer brands. Customs duties will be progressively reduced over up to 10 years, with 99% of India's exports gaining duty-free access and India cutting tariffs on 90% of lines covering 92% of UK imports. Premium categories may see increased competition but overall pricing impact expected to be limited.
Trade India to Release Export-Oriented Fisheries Policy Focusing on Inland Fishery
India's Animal Husbandry and Fisheries Minister Rajiv Ranjan Singh announced an upcoming export-oriented fisheries policy emphasizing inland fishery, which currently accounts for only 2% of India's fishery exports. He stated that fishery exports jumped by Rs 10,000 crore to over Rs 72,000 crore in 2025-26, crediting free trade agreements. The minister also highlighted transport bottlenecks and directed ICAR to study drone use for connecting inland fisheries to export hubs.
India identifies $51 billion in critical imports for domestic manufacturing push
India's internal government analysis has identified $51 billion in critical imports that could be replaced by domestic manufacturing, part of a $398 billion import substitution potential. The move aims to mitigate supply-chain risks and reduce reliance on China.
Trade PM Modi pushes to cut import dependence, boost domestic manufacturing to shield India from global shocks
Prime Minister Narendra Modi has ordered a push to replace high-import goods with local products. The Ministry of Commerce is preparing a list of over 100 products, while the cabinet approved a $19.7 billion incentive boost for chip and smartphone production. Economists say self-reliance is born of necessity.
Trade Piyush Goyal Holds Key Meetings with EU, Belgian Leaders to Deepen Trade, Clean Energy, Agriculture Cooperation
India's Commerce and Industry Minister Piyush Goyal held meetings with European Commissioners Christophe Hansen and Wopke Hoekstra, and Belgian Deputy PM David Clarinval to advance cooperation in trade, clean energy, and agriculture. The discussions built on the India-EU Free Trade Agreement and included plans for CEO-level talks and participation in the India-EU Trade and Technology Council.
Trade India raises diesel and jet fuel export taxes as US-Iran tensions tighten oil markets
India increased taxes on diesel and jet fuel exports, citing the collapse of the US-Iran interim peace deal and global fuel market tightness. The diesel levy rose to ₹15.5 a litre from ₹8.50, while gasoline taxes were cut. The fortnightly adjustment mechanism aims to balance local availability with export profitability.
Trade PM Modi begins New Zealand visit, trade talks in focus
Prime Minister Narendra Modi arrived in Auckland on Friday for the first Indian prime ministerial visit to New Zealand in 40 years. Trade talks with NZ PM Christopher Luxon will focus on the India-New Zealand Free Trade Agreement, which will make 57% of NZ exports to India tariff-free from day one. Modi will also address the Indian diaspora, which numbers around 300,000 in New Zealand.
Trade The biggest prize in the India-UK FTA may not be an export boost
The India-UK Free Trade Agreement may have its largest impact not in immediate export growth but in expanding India's exporter base by building lasting trade capabilities. A report by the Global Trade Research Initiative (GTRI) argues that tariff reductions alone are insufficient; India must strengthen standards, certifications, and logistics. The real benefit lies in creating thousands of new exporters, particularly among SMEs in textiles, garments, leather, footwear, marine products, processed foods, and gems and jewellery.
Trade India-UK Free Trade Deal Takes Effect: Textile and Scotch Whisky Tariffs Slashed
The India-UK free trade agreement came into effect on July 14, 2026, eliminating or reducing tariffs on 99% of Indian exports to the UK and 90% of UK imports into India. The deal is expected to boost textile exports from companies like Welspun Living and cut Scotch whisky duties from 150% to 75% immediately, with further reductions over 10 years.
Trade India-US Trade Deal Framework ‘Ready’ for Signing at ‘Right Time’, Says Official
An Indian official announced that the framework for the India-US trade deal is ready and will be signed at an appropriate time. Negotiations for a bilateral trade agreement are progressing. India is seeking a tariff structure that provides a comparative advantage. Separately, the USTR proposed Section 301 tariffs of up to 12.5% on India and other economies.
Trade Brexit at 10: UK Economy Still Shrinking as Trade Barriers Persist with EU
A decade after the 2016 referendum, Brexit's economic impact is measured at a 4-8% GDP loss, with businesses still grappling with customs paperwork and non-tariff barriers on EU trade. Public opinion has shifted, with 52% now supporting rejoining, but the Labour government rules out a return to the single market.
Trade NITI Aayog Proposes Pharma Chapter in Future FTAs, Urges India to Move Up Value Chain
NITI Aayog’s eighth Trade Watch Quarterly report proposes a dedicated pharmaceuticals chapter in future free trade agreements to help India move up the value chain. The report calls for greater regulatory transparency, stronger industry-academia tech transfer, and shared environmental compliance infrastructure. It highlights India's 65% dependence on China for critical APIs and notes India supplies 50% of Africa's, 40% of the US', and 25% of the UK's generic drug needs.
Trade India-Latin America Trade to Reach USD 100 Billion by 2030 from USD 50 Billion: Uruguay Ambassador
Uruguay Ambassador Alberto Antonio Guani Amarilla announced that trade between India and Latin America is expected to double to USD 100 billion by 2030 from the current USD 50 billion. Speaking at the LAC FIRST conference in New Delhi, he highlighted the need to expand the India-Mercosur Preferential Trade Agreement from 450 to 3,000 products as a step toward a free trade agreement, with key sectors including minerals, agro-industries, and pharmaceuticals.
Trade COMA Urges Kerala to Regulate Coconut Trade to Curb Illegal Transactions
The Cochin Oil Merchants’ Association (COMA) has called on the Kerala government to introduce a regulatory framework for the trade and movement of coconuts, copra and coconut oil, citing large-scale unrecorded and clandestine transactions. The association recommends a market cess, trader registration, electronic documentation for bulk transport and digital tracking of inter-state movement to curb tax evasion and safeguard the state's coconut economy.
Trade Russia and India Work on Increasing Bilateral Trade Volumes, Kremlin Spokesman Says
Kremlin spokesman Dmitry Peskov announced that Russia and India are actively working to increase bilateral trade volumes, noting a steady upward trend. The two countries have set a target of $100 billion in bilateral trade by 2030, established during President Vladimir Putin's visit to India in December 2025. Peskov praised India's economic growth and Prime Minister Narendra Modi's leadership.
Trade India-China Border Trade via Lipulekh Pass to Resume After 6-Year Hiatus
India and China will resume border trade through the Lipulekh Pass after a six-year suspension. The Dharchula administration has issued 26 trade passes to 17 traders and 9 helpers, and a customs office has been established at Gunji. The first batch of Indian traders is expected to reach Tibet on June 26, while a second batch of 25 traders is under process.
Trade Exporters Urge Indian Government Not to Reimpose Onion Export Curbs Amid Price Rise
The Horticulture Produce Exporters Association (HPEA) has urged the Indian government not to impose fresh export restrictions on onions, warning that such curbs could undermine markets regained after a previous ban. Wholesale prices have risen over 42% at Lasalgaon APMC, while exports surged 40% to around 1.5 million tonnes in 2025-26.
Trade Minister Piyush Goyal Wins UK-India Award for Elevating Trade Ties, CETA Set for July 15
Union Minister of Commerce and Industry Piyush Goyal was honoured with a special UK-India Award at the tenth anniversary of the India Global Forum (IGF) UK-India Awards 2026. The award ceremony, held on Thursday evening, celebrated the upcoming entry into force of the India-UK Comprehensive Economic and Trade Agreement (CETA) on **July 15**. Goyal stated that CETA will become a template for future free trade agreements.
Trade EU Carbon Pricing Compliance Maze: Shipowners Face Duplicate Reporting and Costs
The European Commission has pledged to prevent double charging for shipping emissions, but without detailed guidance, shipowners face a compliance maze. EU ETS, FuelEU Maritime and the IMO's emerging framework operate with different scopes, timelines and calculation methods, creating risks of duplicate reporting and costs. EmissionLink warns that accurate data and expert interpretation are essential.
Trade Five Times India and US Trade Talks Stalled but Eventually Found Common Ground
The June 24 trade talks in New Delhi between US Trade Representative Jamieson Greer and Commerce Minister Piyush Goyal ended without a breakthrough. However, history shows that India and the United States have repeatedly resolved sharp disagreements on intellectual property, food security, and tariffs through sustained diplomacy.
Trade Government proposes simplified drug import rules to boost pharma R&D
The Union Ministry of Health and Family Welfare has proposed amendments to the Drugs Rules, 1945, to simplify import of drugs for examination, test or analysis via an acknowledgement-based system, exempting small quantities for non-clinical testing from prior licensing. The move follows a similar domestic reform in January 2026 and aims to boost pharmaceutical R&D and ease of doing business. A draft notification has been placed for stakeholder consultation.
Trade India-UK FTA Must Drive Transformational Growth, Not Just Higher Trade: Piyush Goyal
Commerce Minister Piyush Goyal called on Indian and British businesses to pursue transformational growth beyond incremental gains from the India-UK Free Trade Agreement, effective July 15. He highlighted the Double Contribution Convention's benefits for temporary workers and criticised global rating agencies for unfair assessments of India.
Trade 100% tariff will supersede trade deals: Trump threatens countries planning digital services tax on US firms
The Times of India published a report on June 26, 2026, with a headline stating that Donald Trump threatens to impose a 100% tariff on countries planning a digital services tax on US firms. The article text, however, describes the TOI Business Desk and provides financial calculators, lacking substantive details on the tariff threat.
Trade FEMA rules revision: Exporters flag at least half-a-dozen worries in RBI meeting
Exporters flagged several concerns regarding the proposed FEMA rules revision during a meeting with RBI Governor Sanjay Malhotra. Issues include a 14% contraction in priority sector export credit, a proposed provision restricting future exports on unrealized proceeds, and lack of clarity on merchanting trade and EDPMS for sanctioned markets. RBI indicated receptiveness to suggestions.
Trade 'Target Indians and Indians alone': New Zeland foreign minister Winston Peters alleges ‘covert’ immigration changes under FTA
New Zealand Foreign Minister Winston Peters has accused the government of covertly introducing immigration changes that discriminate against Indian citizens under the India-New Zealand Free Trade Agreement (FTA). Trade Minister Todd McClay dismissed the claims as misinformation, while the FTA bill passed its first reading in Parliament.
Trade SEZ Reforms: Commerce Ministry Calls Stakeholders' Meet on June 30 to Discuss Policy Overhaul
India's Commerce Ministry is convening a stakeholders' meeting on June 30 to discuss a policy overhaul of Special Economic Zones (SEZs), according to a Times of India report. The meeting aims to gather input from industry participants and government officials. No further details on the reform proposals have been disclosed.
Trade India seeks EU scrap export relief as curbs threaten trade pact gains
India is seeking relief from EU scrap export restrictions that threaten to undermine gains from a planned trade pact, as the bloc tightens controls on waste shipments and considers separate measures to limit aluminium scrap exports. India's steelmakers and recyclers warn that export curbs could tighten supply, raise costs, and disrupt supplies of aluminium, copper, and other recycled metals, fuelling competition among importing nations.
Trade Emerging Technologies Will Define Next Phase of India-US Ties, Says Ambassador Kwatra
Indian Ambassador to the US, Kwatra, stated that emerging technologies will shape the next phase of India-US bilateral ties. Speaking at the USISPF Leadership Summit, he outlined India's economic trajectory from $4.3 trillion to $7 trillion by 2030 and $25-30 trillion by 2047, driven by investments in semiconductors, AI, clean energy, and defence manufacturing. He emphasised that Atmanirbhar Bharat is not inward-looking but aims to build globally competitive supply chains.
Trade India-Greece discuss stronger trade, investment and supply chain cooperation: Piyush Goyal
Union Commerce Minister Piyush Goyal held productive meetings with Greece's Development Minister Takis Theodorikakos and Deputy Foreign Minister Haris Theoharis to strengthen bilateral economic ties. Discussions covered trade, investment, industrial cooperation, resilient supply chains, manufacturing, startups, and emerging technologies. Bilateral trade grew from USD 689.33 million in FY21 to USD 1,682.26 million in FY25.
Trade Iran-US Interim Peace Deal May Support India's Growth But Inflation and Fiscal Risks Remain: RBI
The Reserve Bank of India, in its bi-annual Financial Stability Report, stated that the interim peace deal between Iran and the United States could support India's economic growth by normalising supply chains and easing geopolitical tensions. However, it warned that elevated oil and commodity prices, along with weaker global growth, could weigh on domestic expansion in 2026-27, while inflation and fiscal deficit pressures remain key concerns.
Trade UK Carbon Market Extends to Domestic Shipping from July 1, 2026
The United Kingdom extended its emissions trading scheme to domestic shipping on July 1, 2026, covering cargo and passenger vessels of 5,000 gt and above. Operators must monitor CO2, methane, and nitrous oxide emissions and surrender UK allowances. The scheme is separate from the EU ETS, adding a new compliance layer for operators trading around the UK.
Trade US Declines Long-Term Renewal of USMCA, Triggering Ten-Year Countdown to Expiration
The United States has declined to renew the USMCA in its current form, blocking an automatic 16-year extension. The decision triggers a 10-year countdown toward the deal expiring as early as 2036, with annual reviews replacing the long-term commitment. Business groups are divided, with the US Chamber of Commerce warning of uncertainty while steel industry associations welcome the leverage from annual reviews.
Trade Japan-India Annual Summit: 150+ Firms Back $12.5 Billion Leap to Fortify Security Ties
At the Japan-India Annual Summit in New Delhi, over 150 Japanese companies are participating in initiatives valued at approximately 2 trillion yen ($12.5 billion) to strengthen bilateral security and economic ties. The draft joint statement addresses rare earth export curbs by China, defence equipment transfer updates, and cooperation on AI, chips, and clean energy.
Trade India-Japan Summit: Modi and Takaichi Deepen Bilateral Partnership with $12.5 Billion Investment Push
The India-Japan annual summit between PM Narendra Modi and PM Sanae Takaichi concluded with the exchange of several MoUs covering economic cooperation, AI, and metals and energy security. More than 150 Japanese companies are participating in the Japan-India Economic Forum, with approximately 120 cooperation agreements expected, valued at around ¥2 trillion ($12.5 billion) across semiconductors, clean energy, AI, and manufacturing.
Trade USMCA Renewal: Why the Expected Fight Over North American Trade Deal Never Kicked Off
This article explains why the anticipated political battle over the USMCA renewal did not materialize. The war with Iran absorbed the White House's focus, while the US administration believes its tariff strategy has already rebalanced North American trade relations. Formal talks with Mexico and Canada are proceeding without drama, and a 10-year countdown to expiry has begun.
Trade IVPA Signs MoU with China Industry Body CFNA to Strengthen Edible Oil Trade
The Indian Vegetable oil Producers’ Association (IVPA) and the China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce and Animal Byproducts (CFNA) signed an MoU on July 1, 2025, at the CCOC 17 Conference in Shanghai to strengthen industry linkages and promote trade in edible oils and oilseeds.
Trade US trade deal to be on day India secures tariff edge, says Piyush Goyal
India's Commerce Minister Piyush Goyal announced that the US trade deal is nearly complete and hinges on India securing a competitive tariff edge. Meanwhile, the India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force on July 15.