U.S. President Donald Trump announced has 25% tariffs on imports from India, “plus a penalty”. While this has been on the cards, there was some expectation that a quick bilateral trade agreement could soften the blow, if not prevent it.
Trump has justified his move with a number of complaints: he has spoken of India’s high tariffs, non-tariff barriers, India buying oil and defence hardware from Russia, and India’s membership of BRICS, which he considers as anti-US coalition.
Exports to the US constitute 18% of India’s overall exports. If the tariffs kick in, they are expected to lower India’s GDP growth by 20-30 basis points.
Are these tariffs just a pressure tactic aimed to extract concessions from India on the trade deal? What are India’s options? Would India be better off without a rushed trade deal?
Guest: Jayati Ghosh, Professor of Economics at the University of Massachusetts Amherst.
Host: G. Sampath
Produced and edited by Jude Francis Weston
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Published on 4 months, 3 weeks ago
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