In a hostile new world, can our govt save us?
Consider three seemingly unrelated developments. “You can’t hire Indians, set up factories in China and park profits in Ireland,” Trump said to US big-tech in mid-July, following this by imposing a 25% effective tariff rate on Indian exports to US, followed up with a further 25% on account of India’s Russian oil trade.
Microsoft briefly stopped providing services to Nayara Energy, a Russian-owned oil refiner in India. India’s flagship fighter programme, LCA, is further delayed as supplies of engines from GE are held up.
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