Global News Podcast – "India and US Strike Major Trade Deal"

BBC World Service | Host: Paul Moss | Date: February 3, 2026

Episode Overview

This episode of the Global News Podcast centers on the announcement of a major trade deal between the United States and India, dissecting its details, implications, and the perspectives of both governments. Additional stories include the Clintons agreeing to testify about Jeffrey Epstein, challenges facing Norway’s royal family, the experience of BBC reporting in Russia, NASA’s Artemis moon mission rehearsal, Indian girls combating child marriage with football, and a teenage hero’s ocean rescue in Australia.

Key Discussion Points and Insights

1. US-India Trade Deal: Announcement and Analysis

Timestamps: 02:16 – 06:03

• US Claims vs. Indian Silence:
  • President Trump announced tariff cuts on Indian goods and claimed India would stop buying Russian oil in favor of US and Venezuelan imports.
  • Indian response: PM Modi publicly thanked Trump for tariff reduction (from 50% to 18%) and praised bilateral ties, but made no mention of curbing Russian oil purchases.
• Economic Impacts:
  • Textile, apparel, auto parts, gems/jewelry, and seafood (especially shrimp) sectors are expected to benefit most from lower US tariffs. (04:33)
  • These are major export industries employing millions in India, having faced severe damage from previous tariffs.
• Geopolitical Realities:
  • Complete cessation of Russian oil imports by India is unlikely due to longstanding relations and price advantages.
  • Archana Shukla notes:

    “It seems unlikely that India will completely cut down on Russian oil, you know, for two main reasons. One, it's cheap for India's import bills. And secondly, Russia is one of its oldest allies.” (03:42)

• Stock Market Reaction:
  • Mumbai's stock exchange surged on the trade deal’s announcement, reflecting optimism and reduced market uncertainty.
• Context of Recent Deals:
  • This US agreement follows India’s trade deal with the European Union, marking a shift away from protectionism as India seeks to compete with Asian export peers and attract foreign investment.

2. The Clintons Agree to Testify on Epstein

Timestamps: 06:03 – 10:24

• Background:
  • Bill and Hillary Clinton will testify before Congress in the ongoing Epstein investigation, after months of rebuffing summonses and facing possible contempt charges.
  • The Clintons previously submitted written statements but are now set to appear in person.
  • Their lawyer claims their disclosures cover all their knowledge of Epstein and Ghislaine Maxwell.
• DOJ Redaction Failure:
  • The Department of Justice was criticized for unintentionally revealing victim identities in recently released “Epstein files.” (08:10)
  • Legal fallout and calls for more careful protection of survivor privacy are ongoing.
• Public Reaction:
  • The Epstein scandal continues to reverberate in the US and globally, with unresolved questions and the potential for further revelations, especially during the election year.
  • Peter Bowes:

    “Much of this is deeply disturbing to many people... there could be more potentially serious revelations, I think that means that this is going to continue and that in this election year... At the moment, there is no sign of this going away.” (09:36)

3. Norway’s Royal Scandals: Epstein Ties and a Trial

Timestamps: 10:24 – 15:23

• Crown Princess Mette-Marit and Epstein:
  • Newly released emails reveal a significantly closer relationship between the Crown Princess and Epstein than previously admitted, including frequent correspondence and stays at his property. (11:02)
  • The Norwegian public now questions her suitability as future queen.
  • Alison Tovey:

    “It seems like it’s an intimate and very personal relationship... talking about meeting... staying in his property in Florida.” (11:02)

• Her Son’s Criminal Trial:
  • Marius Borg Hoby, the Crown Princess’ son, is on trial for 38 charges including rape, abuse, and drug trafficking.
  • The Norwegian monarchy faces unprecedented scrutiny, though public support for King Harald and Queen Sonja remains high.

4. Reporting in Moscow: Steve Rosenberg’s Perspective

Timestamps: 18:18 – 21:59

• Dangerous Environment for Journalists:
  • Steve Rosenberg, BBC's Russia editor, shares the experience of reporting under increasing government repression, with harsh penalties for dissent and nearly all independent media shut down.
  • Steve Rosenberg:

    “Simply calling it a war can lead to 15 years behind bars… trying to report what's happening right now does feel as if I'm walking this tightrope. I remain fascinated by Russia and want to know how this is going to end.” (20:58, 21:23)

5. NASA’s Artemis 2 “Wet Dress Rehearsal”

Timestamps: 21:59 – 23:25

• Mission Overview and Setbacks:
  • NASA prepares for Artemis 2, aiming for a trip around the moon, but technical hitches arose during a critical pre-launch test (“wet dress rehearsal”).
  • The program’s goal is to develop a permanent human presence on the moon.

6. Indian Girls Fight Child Marriage Through Football

Timestamps: 23:25 – 27:36

• Munna’s Story:
  • Munna, now 19, resisted becoming a child bride at 14 by taking up football, leading other girls in Rajasthan to use sport as a tool for independence and resisting traditional expectations.
• Community Impact:
  • The Football for Freedom project (MJAS) helps girls learn their rights, providing a pathway to financial independence and personal agency.
  • Padma Joshi (Project leader):

    “We said the sport will take girls forward. They will be able to get government jobs that are allocated to sportspersons. But when we worked with the girls... they learned about their rights, about the country's constitution, the ill effects of child marriage... they were able to raise their voices.” (26:04)

• Systemic Challenges:
  • Despite progress, many girls remain under pressure—9 out of 12 on Munna’s football team had been married early, but the tide is shifting.

7. Australian Teenager’s Heroic Ocean Rescue

Timestamps: 27:36 – 30:16

• Incident:
  • A 13-year-old boy swam for hours through treacherous waters to alert authorities after his family was swept out to sea in Western Australia.
• Outcome:
  • The family, including two younger siblings and their mother, were rescued unharmed after enduring strong currents and potential shark threats.
  • Authorities highlight the importance of wearing life jackets.

Notable Quotes & Memorable Moments

• Archana Shukla on India and Russia:

  “It seems unlikely that India will completely cut down on Russian oil… for two main reasons. One, it's cheap for India's import bills. And secondly, Russia is one of its oldest allies.” (03:42)

• Peter Bowes on the Epstein Scandal:

  “Much of this is deeply disturbing to many people... this is going to continue and... At the moment, there is no sign of this going away.” (09:36)

• Steve Rosenberg on Russian Journalism:

  “Trying to report what's happening right now does feel as if I'm walking this tightrope. I remain fascinated by Russia and want to know how this is going to end.” (21:23)

• Padma Joshi on Football for Girls:

  “We said the sport will take girls forward. They will be able to get government jobs that are allocated to sportspersons... they learned about their rights, about the country’s constitution, the ill effects of child marriage... they were able to raise their voices.” (26:04)

• Rescue Services on Australian Teen:

  Authorities described the teen’s swim to save his family as a “superhuman effort.” (28:30–29:23)

Important Segment Timestamps

• US-India Trade Deal Analysis: 02:16 – 06:03
• Clintons/Epstein Legal Developments: 06:03 – 10:24
• Norwegian Royal Scandals: 10:24 – 15:23
• Russia Reporting Insights: 18:18 – 21:59
• NASA Artemis Wet Dress Rehearsal: 21:59 – 23:25
• Indian Girls & Football: 23:25 – 27:36
• Australian Teen Rescue: 27:36 – 30:16

Tone and Style

The episode carries the BBC’s signature tone: calm, authoritative, insightful, and balanced—combining hard news with human interest stories, expert analysis, and personal perspectives.

Conclusion

This episode provides a comprehensive look at the week’s most significant global stories, led by the nuanced reality behind the widely announced US-India trade deal. From the reverberations of the Epstein investigation to signs of social change in rural India and a tale of courage in Australia, the Global News Podcast demonstrates the interconnectedness of political, economic, and social issues on the world stage.