Tariffs: Things India should and shouldn’t do

History shows that countries that confront the US with chest-thumping rarely gain anything. We must respond to the tariffs with nuanced, measured steps

Do you like tariffs? Well, the answer depends on who you ask. If you’re charging and collecting them — or if they shield you from foreign competition — you’ll probably say yes. But if you’re paying them, or they make you uncompetitive, your answer will be an emphatic no.
So, when a country is suddenly slapped with a 50% tariff on most of its exports to its biggest market, it’s hardly pleasant. That is exactly what has happened to India. Barring pharma and certain tech and electronics products, nearly all Indian exports to the US will now be subject to 50% tariffs.