How Asia Is Responding to US Tariffs

Episode Summary

Global trade tensions are rising with the announcement of US President Trump’s Reciprocal Tariffs on April 2nd, 2025. Since the announcement, the US administration has suspended its implementation of these tariffs for 90 days, with China being the only country exempt from the suspension.

In this episode, Amar sits down with friends of the podcast and trade experts, Dr Deborah Elms, Head of Trade Policy, Hinrich Foundation and Dr. Anirudh Shingal, Professor of Economics, SP Jain Institute of Management and Research. They discuss the recent implementation of tariffs by the US on its trading partners, particularly focusing on the impact on Asian countries. The conversation highlights the complexities of these tariffs, the varying effects on different countries, and the potential for regional responses and reforms. Experts Deborah Elms and Aniruddh Shingal provide insights into how countries in Southeast Asia and South Asia are navigating these challenges, the importance of regional integration, and the prospects for future trade agreements. The conversation explores the need for a domestic reform agenda focused on small businesses, the reconsideration of trade policies, and the importance of services in global trade. It highlights India’s trade policy challenges and the potential for N minus one multilateralism in response to changing global dynamics. The speakers reflect on the historical significance of current events and the necessity for leadership in navigating future trade governance.

Full Transcript

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