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Temporary pause
April 11, 2025
|Financial Express Kochi
India should go full throttle in clinching deals with the UK, EU and join mega groupings
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S PRESIDENT DONALD Trump abruptly backed down from his reciprocal tariff agenda on most nations for 90 days but upped the ante by raising levies on China to 125%. The 10% tariff on most imports from around the world is still in place. This tactical retreat amidst a full-blown trade war between the two biggest powers is being spun by White House officials as part of a grand plan; that it was Trump's strategy all along. Nothing could be further from the truth. The fact is that he was forced to respond to a growing backlash from the global markets, including a sell-off in US government debt, amidst warnings from influential bankers and economists that the American economy was heading into a recession.
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