India Must Act to Protect WTO and Global Institutions, Says Congress

Quick Summary

• Congress general secretary Jairam Ramesh highlighted India’s stakes in global institutions like WTO and WHO, which he claimed are being “destroyed” under U.S. President Donald Trump.
• According to Mr. Ramesh, the rules-based multilateral trading system established with U.S. leadership has been severely undermined by unilateral decisions and bilateral negotiations.
• President Trump announced a 25% tariff on exports from India starting August 7, citing New Delhi’s purchases of Russian military equipment and energy as part of the reason for this measure.
• Earlier, Mr.Trump had announced a reciprocal tariff rate of 26% on Indian exports in April; though, the current figure is slightly lower.
• India has stated it will take necessary steps to safeguard its national interest in response to these tariffs.

Indian Opinion Analysis

The declaration of new tariffs against India reflects significant shifts in U.S.-India trade relations under Trump’s administration. While the reduction from the initially proposed 26% tariff may offer slight relief for exporters, its broad implications could strain economic cooperation further and potentially impact sectors dependent on trade with the United States. Beyond economic consequences, India’s purchases from Russia highlight geopolitical complexities that appear unsolved thru multilateral diplomacy – leading rather to unilateral penalties by Washington.

The Congress party’s remarks underscore concerns around diminishing influence or efficacy of global institutions such as WTO and WHO amidst rising protectionist policies worldwide.india’s reliance on these frameworks suggests its vulnerability to disruptions caused by major economies opting for bilateral rather than multilateral terms – an area needing strategic recalibration both politically and economically.read more: source Link