Trade Wars, Tariffs, Air Strikes: Is Trump Pushing the World Toward a ‘Great Depression’-What It Means for India?

swift Summary

• US involvement in teh Iran-israel war has intensified, with airstrikes targeting Iran’s Fordo, Isfahan, and Natanz nuclear sites.
• US President Donald Trump warned of further action if iran retaliates.
• Global tensions are rising due to Trump’s policies, including trade wars and tariffs.
• The Iranian Parliament has approved closing the Strait of Hormuz-a chokepoint responsible for nearly 20% of global petroleum trade-threatening energy supplies worldwide.
• India, which imports over 80% of its crude oil needs, faces a potential price hike in petrol and diesel due to surging global oil prices following these developments.
• Union Petroleum Minister hardeep Singh Puri stated that India has diversified its energy sources; supplies are not heavily reliant on shipments via the Strait of Hormuz.

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Indian Opinion Analysis

The escalation in US activity amid the ongoing Iran-Israel war adds pressure to an already strained Middle Eastern region. If Iran closes the vital Strait of Hormuz as threatened, consequences for global energy security will be important-especially for nations heavily reliant on imported crude such as India. Tho India’s diversified supply chains mitigate immediate challenges per statements by Union Petroleum Minister Hardeep Singh Puri, prolonged disruptions could spike fuel prices domestically.

Additionally, Trump’s use of tariffs prior to this crisis disrupted global trade substantially-including impacts on Indian exporters-and magnified underlying economic vulnerabilities. Rising costs tied to geopolitics like this increase risks not just for India but across interconnected economies grappling with inflationary pressures amidst uncertain recovery trajectories post-pandemic.

india must monitor developments closely while reinforcing strategies around energy diversification and economic resilience against geopolitical uncertainties that ripple through international markets.

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