USA's imposition of Tariffs: Can another 'Swadeshi movement help?

The Prime Minister of India has called upon citizens to buy more Indian-made products, a statement first made at a political rally in Varanasi.

- Kishore Kumar Biswas

But how effective can this strategy be? And could it conflict with the global economic order?

US Tariffs and the Global Trade Paradigm

When the world's largest economy, the United States, imposes import tariffs on goods from multiple countries, it contradicts the very principles of free international trade. The motivation behind this policy, particularly under former US President Donald Trump, was to revive America's low- to medium-technology manufacturing base- sectors that declined significantly during the era of globalization starting in the late 1980s.

However, many economists argue that tariffs are not the right way to restore US manufacturing. Trump defended his policy by claiming that while other economies have benefited from the openness of the US market, they, in turn, erected trade barriers to keep out American goods.

Impact on the Indian Economy