New Delhi, April 3 -- President Donald Trump has demolished the rules-based global trading system and launched an experiment to delink US manufacturing from an interdependent world. This will cause much pain around the world, particularly in the US, as many countries will announce retaliatory tariffs on US goods. India should refrain from doing so.

To start with, let us understand that the tariffs exclude a wide range of goods. Indian pharma exports, among others, are thus unaffected by the 26% tariff on US imports from India.

Also read: Indian pharma companies escape Trump's reciprocal tariffs, for now

The White House said in a factsheet, "Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to ...