World The trade organization (WTO) said on Wednesday that global trade could be affected in the medium-term due to increasing uncertainty on trade policy and imposing new customs duty. According to the ‘Product Trade Barometer’ issued by the WTO, which decided the rules related to trade around the world, the global goods trade appeared stable in the fourth quarter of 2024. It is expected to increase further in the early months of 2025. WTO said that a situation like trade war is arising around the world.
The world is expected to sprinkle trade war
The WTO said, “The possibility of an increase in uncertainty related to trade policy and imposing new customs duties may be overshadowed by trade in the moderate period.” This assessment of the WTO is affected by the tariff declarations of Donald Trump, who took oath as US President in January. Trump has announced a new fee against several countries including China and Canada in the last weeks. In response, these countries have also announced to impose counter -duty on American imports. In this way, trade war has started to be seen all over the world.
India can remove solution from zero for zero tariff
Zero for Zero strategy can prove to be the best for India in response to America’s reciperook tariff. In this, India can identify specific tariff lines or product categories and zero the import duty on them. In response to this, under the reciperook tariff, America will also have to zero on the same number of products. In this way, the high tariffs being taken by India on American products will be rapidly decreased or over, which Trump talks about again and again. On the other hand, the impact on India with the reciperock tariff will also be almost over.
(PTI/Language)
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