Global order is changing, US pre-eminence is in decline. That’s why it’s demanding trade concessions. This approach suits New Delhi. If it’s clever, it can make a few geopolitical deals
As advertised, Trump presidency has thrown disruptive balls in global geo-economic playgrounds. And yet the most disruptive move of them all may come today with Trump’s announcement of “reciprocal tariffs” — retaliatory tariff-marking irrespective of the political colour of the trade partner, ally or adversary. Separately, on Thursday 25% tariff is set to be imposed on all cars and car parts being imported into US. Thus, tariffs make a comeback in American policy toolkit after several decades of free-trade evangelism when US swapped political allegiance for market access.