Will Trump’s Tariffs Derail India’s Economy?
The US administration’s plan to impose “reciprocal” import tariffs could severely curtail key Indian exports, including chemicals, metals, auto parts, and pharmaceuticals, leading to job losses and undermining fiscal stability. India has little choice but to lower its own tariffs while negotiating improved access to the US market.
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NEW DELHI – US President Donald Trump’s tariff threats have dominated headlines in India in recent weeks. Earlier this month, Trump announced that his “reciprocal tariffs” – matching other countries’ tariffs on American goods – will go into effect on April 2, causing Indian exporters to panic at the prospect of being embroiled in Trump’s escalating trade war.