Jaishankar Calls for Fair Global Order Amid Trump Tariffs
Jaishankar Calls For ‘Fair’ Global Order Amid Trump’s tariffs: ‘Not One Dominated By A Few’
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External affairs Minister S Jaishankar has voiced India’s concerns regarding the rising protectionist tendencies globally, especially referencing the potential impact of former US President Donald Trump’s renewed calls for tariffs. Speaking at the Munich Security Conference 2024, Jaishankar advocated for a global order based on fairness and inclusivity, rather than one dominated by a select few nations.
The Rising Tide of Protectionism
Jaishankar’s remarks come at a time of increasing global economic uncertainty. Trump, a frontrunner in the US presidential race, has repeatedly signaled his intention to reimpose tariffs on goods from countries like China, and potentially others, if re-elected. This stance raises fears of a renewed trade war and disruption to global supply chains.
“We are at a time where the global order is under stress,” Jaishankar stated.”The belief that globalization would lead to a more equitable world is being questioned. We see a rise in protectionism, and a pushback against interdependence.”
He emphasized that India believes in a multipolar world, where different countries have a voice and a stake in the global system. A system dominated by a few, he argued, is inherently unstable and unfair.
India’s Stance on a Fair Global Order
India has consistently championed the cause of developing nations and has been a vocal advocate for reforms in international institutions like the United Nations and the World Trade Organization (WTO). Jaishankar reiterated this position, stressing the need for a level playing field for all countries.
“India’s approach is based on the principle of ‘Vasudhaiva Kutumbakam’ – the world is one family,” he explained.”This means we believe in a global order that is inclusive, equitable, and sustainable. We want a world where every country has the opportunity to prosper.”
He further added that a fair global order requires adherence to international law, respect for sovereignty, and a commitment to peaceful resolution of disputes. India, he noted, is committed to working with like-minded countries to build such a world.
Implications of Trump’s Tariffs
The potential re-imposition of tariffs by the US coudl have notable implications for the global economy, including India. Increased tariffs could lead to:
Higher costs for consumers: Tariffs increase the price of imported goods, which ultimately translates to higher prices for consumers.
Disrupted supply chains: Tariffs can disrupt global supply chains, leading to shortages and delays.
Reduced trade: Tariffs reduce the volume of international trade, harming economic growth.
Increased geopolitical tensions: Trade wars can escalate into broader geopolitical conflicts.
Jaishankar acknowledged these risks and emphasized the need for countries to work together to mitigate them. He highlighted the importance of multilateralism and the need to strengthen the WTO to ensure a rules-based trading system.
Ashesh Mallick is a Sub-Editor with over three years of experience in news writing, video production. He primarily covers national news, politics and global affairs. You can follow him on Twitter: @MallickAshes.Disclaimer: Comments reflect users’ views,not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion.By posting, you agree to our Terms of Use and Privacy Policy.