US President Donald Trump’s use of reciprocal tariffs as a tool to narrow the trade deficit poses a tough policy challenge for many countries today. It gets tougher for India, as a 50% tariff is akin to an external economic shock.India’s economic resilience may help it tide over this shock if negotiations fail, but it is also an opportunity to review the country’s complex maze of non-tariff measures, tariff-rate structures, and import processes. Still, negotiating WTO-bound agricultural product tariffs and market access under such duress is inadvisable.
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