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Liberation day: How should Indian firms and policymakers respond?

Firms in India tend to be highly connected into the US economy through elite human networks

trade tariff, US tariff, Trump Tariff
premium

India has bubbled up into the prioritisation of the Trump team as the Indian government has the highest tariffs among large countries in the world | Illustration: Ajaya Mohanty

Ajay Shah Mumbai

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The United States (US) accounts for about a quarter of world gross domestic product (GDP), and used to play a leadership role in the globalised liberal order. Everyone’s eyes are now on April 2, termed “liberation day”, where the US promises new tariffs.
We in India have an intuitive understanding of underdevelopment. This gives us an edge in understanding the new US. Good policymaking involves research, consultation, and negotiation. None of these has been done in the period leading up to April 2. 
With emerging-market levels of policy capability, the announcements of April 2 are fully unknown today. They will be
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper