President Donald Trump has officially announced reciprocal tariffs on countries around the world, sending global markets into turmoil and shaking up international trade. The move is being called an unmitigated disaster, with little thought seemingly given to how the tariffs were calculated or what rationale supported them.
In this episode, host Anirban Chowdhury speaks with Biswajit Dhar of the Council for Social Development to unpack the rising tensions in global trade.
As market volatility spikes and investor confidence wavers, the impact of U.S. tariffs is beginning to bite and India is feeling the heat. Key sectors like auto exports, gems and jewellery, textiles, and electronics are facing significant setbacks.
So, how will this new wave of tariffs reshape India’s trade landscape? What’s at stake for businesses and workers on the ground? And critically, how does this tariff salvo align with the bilateral trade agreement India is currently finalising with the U.S.?

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