Tariff or something else? Nirmala Sitharaman ‘exposed’ Trump’s plan that could shake the global market

Nirmala Sitharaman on Trump Tariffs: The turmoil seen in the global economy after US President Donald Trump imposed tariffs on various countries in April has exposed the weaknesses of the international trade system. The huge fall in stock markets, increasing trade war between countries and bitterness in mutual relations have been the direct results of this policy. Its side effects have also come to light within America, where rising inflation has affected the pockets of common people and many American lawmakers have accepted this.

In this background, Union Finance Minister Nirmala Sitharaman clearly said during a TV channel’s conclave that today global trade is being used as a weapon through tariffs and other measures, which is a matter of concern. He said that now it has become completely clear that global trade is neither completely free nor fair, in such a situation India will have to move forward in a very thoughtful and strategic manner.

‘Mere talks on tariffs are not enough’

Sitharaman stressed that merely negotiating tariffs is not enough, but the overall economic strength of the country can give India an additional edge on the global stage. He also said that India is often accused of being inward-looking or being a tariff king, but the truth is that India has never used tariffs as a weapon. India has imposed tariffs only to protect its domestic industries, so that no foreign country or company can harm the local industries by bringing in a flood of cheap or surplus goods.

Global trade affected by tariff policies

The Finance Minister also raised questions on the fact that today some countries are openly announcing the imposition of higher tariffs and no major objection is being raised about it, whereas earlier such steps were criticized. He termed it the “new normal” of global trade. His statements are also considered important because many countries including America tariff policies Global trade is being affected.

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Mexico’s entry into tariff war after America

Recently, countries like Mexico have also announced the imposition of higher tariffs on nations with which they have trade relations. free trade agreements Are not. In such a situation, India’s cautious and balanced trade policy is considered very important for its economic stability and long-term interests.