A NEW DEAL

Having been labeled the “tariff king" by Trump, India faces a difficult situation. The Office of the United States Trade Representative has released the 2025 National Trade Estimate Report, outlining the trade barriers faced by U.S. exports.

- Tirthankar Mitra

Even if one does not pay much attention to the oft-repeated quote, “April is the cruelest month,” April 2 marks the deadline set by U.S. President Donald Trump to impose reciprocal tariffs. On April 1, stock markets reflected investor anxiety, with the BSE closing 1.8% lower amid uncertainty.

Though the United States is no longer a British colony, President Trump dubbed April 2 “Liberation Day,” suggesting that rolling back imposed tariffs would free the U.S. from dependence on foreign goods.

“All countries will be affected,” President Trump stated, making it clear that nations hoping for exemptions would be disappointed.

This presents a critical point for discussion: Trump appears to be leveraging tariffs for geopolitical purposes.