Global Trade Turmoil: Navigating Challenges Amid Shifting Geopolitical Tides
Former ambassador V S Seshadri discusses the impact of unpredictable tariff policies and geopolitical tensions on global trade. He highlights the strategies of the US, EU, and China in shaping international trade dynamics and examines India's position. Seshadri underscores the challenges facing developing countries amid increasing unilateral trade measures.
- Country:
- India
In a recent lecture at the India International University of Legal Education and Research (IIULER), former ambassador V S Seshadri emphasized the disruptions shaking the global trading system. He pointed to unpredictability in the United States' tariff policies and China's quest for economic supremacy as major factors contributing to this turmoil.
Speaking as part of the Union Ministry of External Affairs' Distinguished Lecture Series, Seshadri elaborated on the diverging strategies of global trade giants—the US, the European Union, and China. These powers account for 42 percent of global merchandise trade, with significant implications for India's modest 2.3 percent share.
Seshadri critiqued the expansion of unilateral trade measures under Donald Trump's administration, which have strained traditional trade practices, often at the expense of developing countries. He also highlighted the contentious nature of China's global ambitions and multilateral challenges posed by the EU's protectionist mechanisms.
(With inputs from agencies.)
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