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Trump tariffs won't trigger 'reforms': Is India facing a trade crisis?
Debashis Basu
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Last week, United States (US) President Donald Trump imposed a 25 per cent tariff on select Indian exports, and soon escalated it to a threat of 50 per cent, primarily over our continued import of Russian oil. This amounts to punitive sanctions reserved for enemies. Unless reversed quickly, it will deal a hard blow to a few traditional exporters to the US such as garments, leather, and gems and jewellery. The Indian political response has been a predictable mix of defiance and chauvinism, claiming to 'safeguard the welfare of farmers, labourers, entrepreneurs, industrialists, exporters, and small businesses.' But
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