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World trade at risk
Business Standard
|February 18, 2025
Donald Trump's drive for reciprocity will undermine trade
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United States (US) President Donald Trump had made no secret on his campaign trail of his intent to reshape trade policy by sharply raising tariff walls. Concern that the US has received a raw deal when it comes to the traditional trade architecture has in fact been a long-standing belief with Mr Trump and he is once again in a position to impose his views on the world. In his last term, he was satisfied with hamstringing the World Trade Organization's dispute-settlement structure and renegotiating the North American Free Trade Agreement (Nafta) while also taking the US out of the Trans-Pacific Partnership (TPP). These damaged the global trading system considerably, but his plans for this term are significantly more worrying. Mr Trump declared last week that he intended to charge a "reciprocal tariff" on goods imported into the US. It is unclear what this might mean, but at the very least it threatens to undermine the current system of world trade and leave countries like India struggling to respond.
This story is from the February 18, 2025 edition of Business Standard.
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