New Delhi, April 4 -- US President Donald Trump's tariff thunderbolt sent shockwaves across world capitals on Thursday, turning the clock back on globalization and raising fears of a tariff war. For India, however, the strategy is to avoid countermeasures, tie up a trade deal swiftly, and explore opportunities once the dust settles.

While the European Union is preparing retaliation, Japan is seeking exemptions and China has vowed countermeasures, India's goal is to conclude a Bilateral Trade Agreement (BTA) with the US early, even as levies as high as 27% kick in next week, on top of existing tariffs.

With steelworkers and auto executives in attendance at the White House Rose Garden, Trump declared steep tariffs targeting friends and fo...