G20 Should Address Trade and Tariff War, AI Challenges

US, EU tariffs, China's surplus capacity, protectionist measures hinder free trade and growth

- Gireesh Chandra Prasad

It is "critical" for the G20 to address emerging challenges of trade and tariff wars, India's sherpa Amitabh Kant said, amid increasing threats by US President Donald Trump to hike tariffs against India and other members of the grouping of major global economies.

In an interview, the former bureaucrat said G20 should also address the potential adverse effects of artificial intelligence by suggesting a regulatory framework.

Talking about his new book, How India scaled Mt G20, Kant said the influential grouping of 19 countries, the European Union (EU) and the African Union, representing 85% of global GDP, is the only effective forum to resolve critical international economic and developmental issues.

"The only forum which will give you results is G20 that includes emerging markets, the G7 nations, Russia and China. There is no other multilateral forum which will give you results on critical issues," Kant said.

With the grouping having succeeded in achieving consensus on key issues during India's presidency, Kant said New Delhi will continue to work with other nations to tackle emerging issues.