DEMOCRATIC presidential candidate Kamala Harris and her Republican rival Donald Trump are like chalk and cheese. Much has been made of the personality differences between the brash and unpredictable Trump and the more cool, calm and cerebral Harris. Nowhere do their differences stand out more than in their sharply contrasting plans for the US economy.
Former President Trump trumpeted his anti-globalisation credentials during his 2017-2021 presidency, imposing tariffs with a flourish—targeting imported aluminium, steel, electronics and practically everything from China. Trump has now proposed an across-the-board tariff of up to 20 per cent on imports, plus 60 per cent on China, while cocking a snook at India as the “biggest (tariff) charger of all”.
“I think they (India) probably charge more than, in many ways, China. But they do it with a smile,” Trump told members of the Detroit Economic Club.
Tarriff Man
Unfortunately, Trump’s protectionist policies will only antagonise countries and undermine US international competitiveness. It will certainly impact Indian exports to the US, which included 7,753 commodities last year. America was India’s largest trading partner, with a record $128.78 billion in bilateral trade in 2022-2023, according to the Ministry of Commerce and Industry. India had a trade surplus of $28.30 billion with the US, with India exporting $78.54 billion to the US and America exporting $50.24 billion.
“Trump has positioned himself as an ‘America First’ protectionist, and tariffs will surely rise, further stoking inflation,” says Parag Khanna, author of The Future is Asian and CEO of AlphaGeo.
Denne historien er fra November 11, 2024-utgaven av Outlook.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 11, 2024-utgaven av Outlook.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Layers Of Lear
Director Rajat Kapoor and actor Vinay Pathak's ode to Shakespeare is an experience to behold
Loss and Longing
Memories can be painful, but they also make life more meaningful
Suprabhatham Sub Judice
M.S. Subbulakshmi decided the fate of her memorials a long time ago
Fortress of Desire
A performance titled 'A Streetcart Named Desire', featuring Indian and international artists and performers, explored different desires through an unusual act on a full moon night at the Gwalior Fort
Of Hope and Hopelessness
The body appears as light in Payal Kapadia's film
Ruptured Lives
A visit to Bangladesh in 2010 shaped the author's novel, a sensitively sketched tale of migrants' struggles
The Big Book
The Big Book of Odia Literature is a groundbreaking work that provides readers with a comprehensive introduction to the rich and varied literary traditions of Odisha
How to Refuse the Generous Thief
The poet uses all the available arsenal in English to write the most anti-colonial poetry
The Freedom Compartment
#traindiaries is a photo journal shot in the ladies coaches of Mumbai locals. It explores how women engage and familiarise themselves with spaces by building relationships with complete strangers
Love, Up in the Clouds
Manikbabur Megh is an unusual love story about a man falling for a cloud. Amborish Roychoudhury discusses the process of Manikbabu's creation with actor Chandan Sen and director Abhinandan Banerjee
