THE TARIFFS CONUNDRUM: INDIA, A TRADE-SURPLUS NATION ACCORDING TO THE U.S., IS ALSO BATTLING PERCEPTION.

DONALD TRUMP, the 47th U.S. President, has in the past described India as a “tariff king”.

- BY RAJIV RANJAN SINGH

And in the first few weeks of his second stint, the U.S. has unilaterally initiated action against India, and other trade-surplus nations, by imposing tariffs on products like steel, aluminium, and pharma. What many aren’t aware is that India was one of the 23 founding members of GATT, the predecessor of the WTO. The country's commitment to the market economy and strong democracy makes it a natural ally of the U.S. But the perception, especially in the U.S., is that India imposes high tariffs and isn’t market friendly.