Trade War Impact On India Economy

Trade War Impact On India Economy

There was a time when monsoons in India were amongst the toughest to predict. Not anymore. The Indo-US ties stand in its shoes now. I am not sure whether anybody in his sane wisdom would be able to hazard a guess whether all’s well; I certainly can’t.

Today you see India as a ‘strong strategic partner’ of the US and tomorrow you see the 2+2 dialogues getting repeatedly postponed. Today you see ‘India focus’ in Indo-Pacific Resuscitation of the ‘Quad’ and tomorrow you see the US increase tariffs on Indian steel and aluminium items and India in a tit-for-tat putting a $240 million bounty on its exports of 29 items to the US.

In his first meeting Prime Minister Narendra Modi had with US President Donald Trump, I remember Trump did not miss out on his emphasis on the 30 billion dollar trade deficits with India and in a lighter note the reference to our import tariffs on the Harley Davidsons.

In a quickie, the Union Finance Ministry knifed the tariffs of these luxury bikes from 75 per cent to 50 per cent – nobody really seemed impressed however! Read More

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