Congress MP Shashi Tharoor has voiced serious concerns over the global economic impact of US tariffs, describing the situation as “quite negative” for India and other nations. Speaking at an event in Ahmedabad, Tharoor emphasized the need for India to engage in effective bilateral trade negotiations with the United States to mitigate the adverse effects of the tariffs.
The tariffs, imposed by the Trump administration, have disrupted global markets, with India’s share market experiencing a decline of 3%, compared to a 9% drop in the US market. Tharoor highlighted the unpredictability of the situation, noting that the tariffs have created widespread economic challenges and fears of recession in several countries.
Tharoor also pointed out that while India’s growth rate of 5.4% may shield it from a recession, the broader economic landscape remains grim. He stressed the importance of leveraging India’s position in trade negotiations to secure relief and capitalize on opportunities arising from higher tariffs imposed on competing nations.
As India navigates this challenging economic environment, Tharoor’s call for strategic diplomacy underscores the urgency of addressing the fallout from the US tariffs and ensuring stability in the nation’s trade relations.
