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Trade War, Tariff Hikes and India's Silver Lining
Hindustan Times Bengaluru
|April 21, 2025
The Donald Trump administration announced a host of sweeping tariff hikes with every single one of America's trading partners.
NEW DELHI: On April 2, the Donald Trump administration announced a host of sweeping tariff hikes with every single one of America's trading partners. The aim of the so-called "Liberation Day" tariffs was ostensibly to "rebalance" the global trading system, as some Trump advisors have put it.
However, the drastic measure roiled markets and eventually resulted in Trump imposing a 90-day pause on most tariffs, except for strategic sectors and imports from China. India, for its part, was slapped with a 26% tariff even as top officials were negotiating a bilateral trade agreement with their American counterparts.
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