Tata Motors share price climbs over 3% on US-UK trade deal reports; what we know so far

Jaguar Land Rover, which manufactures a significant share of luxury cars in the UK, has a strong presence in the US market.

The POTUS also teased a trade deal on Truth Social without naming any country.

"Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!," he said.

A deal between the two countries would likely benefit JLR, as around one-fifth of the company's revenue comes from the US.

In April, JLR had paused shipments to America following 25% tariffs on auto imports. Reportedly, the shipments have resumed, but no official confirmation has been made yet.

Tata Motors share price

Tata Motors shares rose as much as 3.55% to ₹704.5 apiece on the National Stock Exchange (NSE). At 11:43 am, it was up 2.32% to ₹696.10 per unit.

This development comes after the India and the UK Free Trade Agreement (FTA), which will make imports of cars and whisky cheaper from Britain and will remove taxes on exports of products like leather, clothing, and footwear.

The trade deal is expected to double trade between the two countries to USD 120 billion by 2030.

Prime Minister Narendra Modi called the successful conclusion of the mutually beneficial FTA "a historic milestone', along with a Double Contribution Convention "will further deepen our Comprehensive Strategic Partnership, and catalyse trade, investment, growth, job creation, and innovation in both our economies".