Tariff Turmoil: Impacts on Trade and Economy

This chapter examines the significant effects of newly imposed tariffs on both the U.S. and Indian economies, highlighting the surge in tariff revenue and concerns about budget deficits and inflation. It elaborates on the challenges faced by Indian businesses, particularly small enterprises in the textile and jewelry sectors, as they grapple with hefty tariffs that threaten their survival. The chapter also explores how American manufacturers are responding to increased operational costs and the complexities of navigating international trade relationships amid these developments.