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Why in the News? The U.S. has implemented new tariffs targeting major trading partners like China, Canada, and Mexico. These protectionist measures could disrupt global supply chains, impact economies, and trigger retaliatory tariffs, raising concerns about economic instability and escalating trade conflicts. Consequences of Tariff Wars Tariff wars increase production costs by raising the price …
Read MoreWhy in the News? The zero-for-zero tariff approach is being considered as a way for India to counter US reciprocal tariffs. This method involves mutual tariff elimination on select goods, offering a faster alternative to bilateral trade deals and minimizing the impact of new trade barriers. Impact of Reciprocal Tariffs on India If uniform reciprocal …
Read MoreWhy in the News? External Affairs Minister S. Jaishankar highlighted that Trump’s policies on multi-polarity, energy stability, connectivity, and technology benefit India, emphasizing collaborations like Quad, India-Middle East-Europe Corridor, and trade negotiations during his address at Chatham House, London. Strategic & Geopolitical Shifts: External Affairs Minister Jaishankar highlighted that several U.S. policy priorities under President …
Read MoreWhy in the News? U.S. President Donald Trump announced reciprocal tariffs from April 2, targeting India, China, and other nations with high levies on U.S. goods. He called these tariffs “very unfair” and emphasized boosting domestic manufacturing while retaliating against trade imbalances. Key Announcement: S. President Donald Trump criticized high tariffs imposed by India, China, …
Read MoreSyllabus GS-2: Bilateral Groupings & Agreements , Effect of Policies & Politics of Countries on India’s Interests , Indian Diaspora , Groupings & Agreements Involving India and/or Affecting India’s Interests Focus: The US, under Trump’s “reciprocal tariffs” policy, may impose higher import duties on Indian goods, especially agricultural exports like shrimp and basmati rice. With …
Read MoreWhy in the news? India’s average import tariff (17%) is the highest among BRICS nations and five times that of the U.S. (3.3%), mainly due to high agricultural tariffs. The U.S. is pushing for tariff reductions, impacting trade negotiations. India’s Import Tariff Structure India’s average import tariff in 2023 was 17%, significantly higher than the …
Read MoreSyllabus: GS-2: International Treaties & Agreements, Government Policies & Interventions GS-3: Inclusive Growth, Government Policies & Interventions, Effect of Policies & Politics of Countries on India’s Interests Focus: US President Donald Trump has proposed reciprocal tariffs, ensuring the US imposes the same tariffs on imports as other countries impose on US exports. This challenges existing …
Read MoreSyllabus: GS – 3– Global trade , Role of WTO , Bilateral relations between countries Focus : This article examines the decline of the World Trade Organization (WTO) as a robust multilateral trade referee, highlighting the persistent paralysis of its Appellate Body, the shift in global power dynamics with China’s rise, and the resurgence of …
Read MoreSyllabus: GS-2: Government Policies & Interventions GS-3: Growth & Development , India and its Neighbourhood , Bilateral Groupings & Agreements , Inclusive Growth Focus: Switzerland has suspended the MFN clause in its DTAA with India, resulting in higher taxes on dividend payments from Swiss entities to Indian investors starting January 2025. This change follows a …
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