Tariffs' Unfortunate Impact
Raghuram Rajan pointed out that tariffs, particularly those initiated by the Trump administration, have negatively influenced the relationship between
India and the United States. This has brought many critical discussions about the economic challenges, along with strategic importance, faced by both nations.
India's Response Strategy
With the tariffs in effect, experts are providing advice on India's approach to address the economic ramifications. The discussions focus on strategies to soften the impact and discover chances for negotiation to safeguard Indian interests in the international markets. This requires critical thinking.
Historical Context: Tariffs
The history of tariffs, tracing back through periods like Jefferson's time, reveals how America has used them. This section examines this history, focusing on its repercussions on international trade. This includes examining the tools employed in tariff enforcement and trade relationships.
Sectoral Tax Relief
The government's proposal to tax chocolates with cocoa, pastries, and ice cream at 5% instead of 18% is under consideration. If this becomes reality, consumers can expect a bit of relief. This will be very beneficial for people in India, especially during festive times.
