Title: India Can’t Remain Mute Spectator as Trump Destroys WTO: Congress
The World Trade Organization (WTO), a cornerstone of global trade, is facing an existential crisis under the leadership of US President Donald Trump. The recent tariff move by the Trump administration has sent shockwaves across the globe, and India is no exception. As a significant player in the global economy, India has the highest stakes in institutions like the WTO and the World Health Organization (WHO), which are being “destroyed” and “gutted” by Trump. In this blog post, we will explore the implications of Trump’s tariff move on India and why the country cannot remain a mute spectator.
India, the world’s fastest-growing major economy, has been a vocal critic of Trump’s trade policies. The country’s exports to the US are valued at around $53 billion, making it one of the largest trading partners of the US. However, the recent tariff move by the Trump administration has put India’s exports to the US in jeopardy. India now faces 25% tariffs on its exports to the US, which could have a significant impact on the country’s economy.
Congress leader Jairam Ramesh, in a recent statement, criticized Trump’s tariff move, saying that India cannot remain a mute spectator and be content with coining slogans and acronyms. He emphasized that India has the highest stakes in institutions like the WTO and WHO, which are being “destroyed” and “gutted” by Trump. Ramesh’s statement highlights the gravity of the situation and the need for India to take a proactive stance to protect its interests.
The WTO, established in 1995, is a global institution that aims to promote free trade and provide a framework for international trade. The organization has 164 member countries, including India, and is responsible for setting and enforcing trade rules. However, under Trump’s leadership, the WTO has been facing significant challenges. Trump has been critical of the organization, accusing it of being unfair to the US and failing to address the country’s trade concerns.
The recent tariff move by the Trump administration is just the latest in a series of trade actions taken by the US against India. In June, the US imposed tariffs on steel and aluminum imports from India, citing national security concerns. The move was seen as a retaliatory measure against India’s decision to impose tariffs on US goods, including almonds and apples.
India’s exports to the US are not the only ones affected by the tariff move. The country’s auto industry is also facing significant challenges due to the tariffs imposed by the US. The Indian auto industry is one of the country’s largest employers, and the tariffs could lead to job losses and a decline in economic growth.
The implications of Trump’s tariff move on India’s economy are far-reaching. The country’s exports to the US are expected to decline significantly, leading to a decline in economic growth. The tariff move could also lead to inflation, as the cost of imports increases. Additionally, the move could lead to a decline in foreign investment, as investors become wary of the uncertainty surrounding India’s trade relations with the US.
In conclusion, India cannot remain a mute spectator as Trump destroys the WTO. The country has the highest stakes in institutions like the WTO and WHO, which are being “destroyed” and “gutted” by Trump. India must take a proactive stance to protect its interests and ensure that its exports to the US are not affected by the tariff move. The country must also work to strengthen its trade relations with other countries, including the US, to ensure that its economy continues to grow.
News Source:
https://repository.inshorts.com/articles/en/PTI/3a4e3278-9fbb-413f-9375-34b37061f880
