It said that India has to strengthen its local supply chains and produce critical intermediates to reduce reliance on China, while improving cost efficiency and ease of doing business to enhance competitiveness of domestic industries and increase exports to the US. With Donald Trump again becoming the US President, the evolving trade landscape offers huge opportunities for the Indian industry as he is now planning new tariffs targeting Mexico, Canada, China, and others.
The US-China trade war, initiated in 2018 under President Donald Trump with tariffs targeting key sectors, has significantly reshaped global trade flows but failed to achieve its primary goals.
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