Best of BS Opinion: Trade gambits and the things we have to let go

Here are the best of Business Standard's opinion pieces for today

There’s a certain hopefulness in human nature that’s hard to shake. Like when you play a flute in front of a rabbit, convinced it will rise on hind legs and sway, even though it just blinks, twitches an ear, and goes back to nibbling grass. We repeat this pattern in politics, diplomacy, trade, and even our personal choices, expecting a choreography that never comes, but performing anyway because the tune feels too good to stop. Let’s dive in. 

Kenneth Rogoff sees this in Donald Trump’s second term, a presidency that, six months in, has ticked off its wish list with unusual speed. The “One Big Beautiful Bill Act” has passed, crypto has been embraced under the GENIUS Act, and tariffs have been slapped on partners from Europe to Japan. Yet, beneath the melody of strong growth and tariff revenues, the risks lurk: overextended presidential powers, potential inflation, and long-term harm to US institutions. The tune is playing, but no one knows if the next verse will be upbeat or ominous. 

Meanwhile, Mihir S Sharma points to India’s misplaced faith that it could sidestep the sting of Trump’s trade policy. Instead, US tariffs now bite deeper than those on Southeast Asia, and whispers of pivoting toward Russia risk alienating Western markets far more valuable in the long run. It’s the diplomatic equivalent of waiting for the rabbit to sway, even as it hops further away. 

And Devangshu Datta adds a twist, the irony that Indian exports of petroleum products, refined from Russian crude, are untouched by Trump’s punitive tariffs. Still, higher duties would bruise both sides, from Boeing’s supply chain to India’s pharma and textiles. With few bargaining chips, India may resort to delaying tactics, hoping for a political shift in Washington before the music stops. 

Eswar Prasad notes that Trump’s trade “victories” over allies carry costs at home: higher prices, strained alliances, vague deals, and uncertain investments. Tariff revenues rise, but so does distrust. The rabbit may not only ignore the flute, it might leave the clearing altogether. 

Finally, in today’s Eye Culture, Jyoti Mukul reminds us that even cars, once chosen for colour and sentiment, face hard deadlines in places like Delhi, where pollution rules cut short their lifespan. Parting with them isn’t just about losing transport, it’s about saying goodbye to journeys, livelihoods, and memories.  

Stay tuned!