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The story so far: Last week, the U.S. accused India of violating what it considers fair trade practices. The White House published a report titled ‘The Great Transhipment Scam’ in which it accused about 40 countries, including India, of helping China evade U.S. tariffs. What is the Great Transhipment Scam? Over the last nearly three decades, the U.S. and Chinese economies have become deeply intertwined, with the U.S. increasingly relying on China to be its manufacturing hub, and China relying on the U.S. as its market and for investment. This is a somewhat simplistic assessment of their engagement, but it…
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