Reports of tariff tones announced by US President Donald Trump can be seen on the display on the facade of the Bombay Stock Exchange (BSE) in Mumbai 3 April 2025. Photo Credit: AP
The new tariffs of US President Donald Trump are equal to the overall ignorance of the World Trade Organization (WTO), and on Thursday (April 2, 2025) said India should follow, and also “evaluated” aspects of intellectual property rights (Trips).
Trips is a comprehensive multilateral agreement on the intellectual property of WTO, not always respected in favor of developing nations.
Swadeshi Jagaran Manch (SJM) economist and co -founder Ashwani Mahajan told Hindu that India had paid for meeting these international agreements that the US was now eliminating.
“Trips is inhuman”
“We see that the WTO is absolutely ignorant of the WTO. We signed the WTO and got higher bound tariffs because of which we received, trips, lining, services and agriculture in the general agreement on tariffs and trade (G
“We can also ignore the WTO trips and blow up trips. Maybe it is too early to say it, but if the WTO does not exist, then why should trips? Trips as an inhuman agreement.
‘Silver lining’
The announcement of business tariffs, called the “day of liberation”, Mr. Trump, may have a “silver lining” for India, Mahajan said. “If we look at the list of countries that are tariffs, our number comes in 19th and China is 11., I believe. There is a difference between India and China. Among India and China, who are the main competitors in terms of US markets-they can be in India but may be in India, but we could get it.
“In this relative difference, we see a silver lining that India would have access to the market more than the announcement of these Trump tariffs. Say that if Chinese products become 34% more expensive, Indian products will be 26% more expensive,” he said.
“Protect the farm, dairy sectors”
However, he made a note of caution about the market access with regard to agriculture, dairy and small sectors. “The Indian government should continue their efforts to protect agriculture and livelihood issues,” he said.
Mr. Mahajan added that if India did not store retaliation, he did not see prices in India. “As far as the thinking of the Indian government is concerned, they are ready to tune the tariffs for cars, especially electric vehicles, and they do not concern competition with Indian car manufacturers. They are surely thinking about us because they saved tariffs across the album,” he said.
Published – April 3 2025 17:57
