Britain plays down concern on India trade deal, hints at implementation delay

Britain said talks with India on implementing their 2025 free trade agreement are progressing and the deal itself is unlikely to be reopened, but implementation could be delayed into autumn after a dispute over planned UK steel measures. Markets may see modest sterling volatility (GBPUSD) from renewed uncertainty around timing and trade friction, though officials downplayed the risk of renegotiation. London also sought to reassure investors over U.S. tariffs tied to forced labour, saying Washington has acknowledged UK efforts and no new tariffs are imminent — a factor that should limit near-term downside risk for the pound and UK-linked assets.