How has India's stance on tariffs changed amidst Trump's tariff war
India has slashed peak tariffs from 150% to 70% to 'correct bad optics' amidst Trump's tariff war.
- India reduced peak tariffs from 150% to 70% to address concerns over trade imbalances with the US.
- The decision to cut tariffs was seen as a strategic move to improve trade relations and reduce tensions with the US.
- Indian authorities believed that lowering tariffs would help in resolving trade disputes and prevent the escalation of a full-blown trade war.
- The move was also aimed at improving the country's image and addressing criticisms of protectionist trade policies.
- By reducing tariffs, India hoped to show flexibility and commitment to international trade norms and promote a more open global trading system.
Answered
3 months ago