When trade agreements matter

Suzuki, the largest foreign carmaker in India, with annual sales of 1m vehicles, pays around 12% tariffs on parts imported from Japan. South Korea’s FTA with India means that Suzuki’s rival, Hyundai, pays just 1-5%. Osamu Suzuki, the Japanese company’s boss, feels “handicapped”.

Source: The Economist: Japan’s big companies are shipping production abroad