U.S. President Donald Trump has unleashed a wave of tariffs over the past year against many of its largest trading partners including China, Canada, the European Union, and Mexico. India too has been affected, particularly by tariffs on steel and aluminium. The rest of the world now confronts choices about how best to respond, in what areas, with what adjustments to trade and economic policy, and whether to approach the issue bilaterally or multilaterally.
Brookings India hosted an expert roundtable featuring Jaimini Bhagwati, RBI Chair Professor at Indian Council for Research in International Economic Research (ICRIER) and former Ambassador to Belgium, Luxembourg, and the European Union, and High Commissioner to the United Kingdom. The discussion was chaired by Shivshankar Menon, Distinguished Fellow at Brookings and India’s former National Security Advisor and Foreign Secretary.
The discussion was under the Chatham House Rule.
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It’s hard for me to see how [a no deal Brexit] would benefit the EU at all. By nature of the single market, you’ve got a heavily integrated economy that would come to a screeching halt.