Synopsis
When Donald Trump is back in the saddle, one thing is certain: Tariff wars. Yes, China will be the biggest target. But for all those who think India will be unaffected, just do a Google search for βTrump on high import duty on Harley Davidson bikesβ. A further indication came just a few days ago when he mentioned Brazil and India in the same breath, saying that the two countries were imposing high tariffs and should expect consequences. While it may not become a major issue, there may well be some retaliation. Or the threat of retaliation could be used as a tool to get India to change its stance on some global issue. Or as a quid pro quo: For instance, a push for lower duties on EVs, especially cars β a move that could help Trumpβs biggest backer Elon Musk and his Tesla. But one sector which would be relatively safe could be pharma, and there are reasons for it. And mind you, we are using the word βrelativelyβ.
As the world gets ready for the start of the second term of Donald Trump, it is better to visit recent history because it is very likely that some of the statements he has made earlier will be heard once again. One should, however, be ready to make a distinction between reality and rhetoric. But remember that reality and rhetoric can have different meanings at different times. Just as an example, exactly eight years ago, in 2016, when a reality
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