New Delhi (Sputnik) — In the wake of India proposing a duty hike of up to 100 percent on 20 US products, experts feel that the US attitude of "America first" will, in the long run, hamper its own trade interests and will push countries like India more towards the Eurasian concept of business partnerships and the India-China-Russia axis will play a major role in the evolving international trade equation.
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"The American policy of protectionism is misplaced and self harming. The perils of the policy will be visible in the near future and will hamper the American economy and specially its agriculture industry if they continue with this policy," Vijay Sardana, an international trade analyst and commentator, told Sputnik.
"Countries like India, which is a huge market for American goods, are increasingly thinking in terms of aligning themselves with their traditional partners like Russia. China is already taking on the US by its own terms and aggressive postures. In such a situation, even European developed countries may shift its usual pro-US trade inclinations if the Trump administration does not change its attitude," Sardana said.
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India has proposed a duty hike on 20 items including peas, chickpeas, fresh apples, walnuts, soybean oil, refined palm olein, coco powder, chocolate products and golf cars in retaliation to a US duty hike on aluminum and steel imports. The US has, however, clarified that the duty hike it is not a safeguard measure — an explanation India refuses to digest.
The views and opinions expressed by Vijay Sardana in this article are those of the speaker and do not necessarily reflect the position of Sputnik.
