 "I don't think retaliatory action by India makes sense. The US is our largest trading partner, but we are not a significant trading partner for the US. Retaliatory tariffs by us will not hurt the US or deter it significantly, Montek said.")
Montek Singh Ahluwalia, former deputy chairman of the Planning Commission and currently distinguished fellow at the Centre for Social and Economic Progress (CSEP), tells Indivjal Dhasmana in New Delhi that tariff advantages for India vis-à-vis other economies in the US, will not yield any immediate gains in the American textiles market. He also shares thoughts on regional groupings, free-trade agreements (FTAs), and the efficacy of exchange rates. Edited excerpts:
Will tariffs imposed by the US take the world back to the pre-globalisation era?
President Donald Trump’s proposals will bring US tariffs back to where they were after the Smoot-
