India-EU just signed a massive Free Trade Agreement... while Trump is threatening a new tariff war. Is global trade splitting in real time?

While everyone's distracted by earnings and rate cut rumors, something huge is happening under the surface:

India and the EU just locked in a landmark Free Trade Agreement, opening the door to deeper integration, cheaper trade flows, and long-term economic alignment.

At the exact same time Trump is openly threatening to jack up tariffs on South Korean goods - reviving the same protectionist playbook that rattled markets years ago.

So let me get this straight:

• One part of the world is tearing down trade barriers

• Another is actively rebuilding them

• And markets are pretending this won't matter?