On February 13, 2025, U.S. President Donald Trump enacted an executive memorandum titled \"Reciprocal Trade and Tariffs.\" This policy introduces reciprocal tariffs, meaning the United States will impose tariffs on imports at the same rate their trading partners apply to American goods.
The announcement has sparked significant global attention and diverse reactions. Experts warn that this move could disrupt the delicate balance of free trade and hinder the ongoing process of globalization.
S. Parameswaran, an esteemed Indian professor and trade specialist, expressed concerns that these new tariff barriers might set off a domino effect. Essential consumer goods, including steel and automobiles, could become more expensive, reducing consumer choices and increasing costs worldwide.
The implementation of reciprocal tariffs signifies a shift towards protectionism, potentially altering the dynamics of international trade. As nations navigate this new landscape, the full impact on global markets and consumer interests remains to be seen.
Reference(s):
We Talk: Indian scholar: U.S. tariff plans threaten consumer interests
cgtn.com
