In Trump’s tariff world, India must say: We are open for business

News Snapshot:

US President Donald Trump has announced sweeping reciprocal tariffs on all trade partners in addition to the existing tariffs on steel and aluminium. The stated goals: Reshore manufacturing — especially of cars, electronics, and chips — and reduce bilateral trade deficits. Whether those aims can be met remains uncertain. But two things are clear. First, this is a seismic shock to the global trade order. The scale of the tariffs is unprecedented, by some estimates greater than those under the infamous Smoot-Hawley legislation. A baseline tariff of 10 per cent applies to all countries, with higher rates for nations running...