India, Oct. 24 -- In April this year, when the US President Donald Trump unveiled 'reciprocal tariffs' against trade partners, a White House note stated, "For the first time in decades, the United States will see fair trade. level the playing field for American workers and businesses." It added, "Despite the rhetoric from politicians and the media, studies have repeatedly shown tariffs are an effective tool for achieving economic and strategic objectives, just as they did in President Trump's first term." Critics vehemently disagreed.

A public policy think tank, American Enterprise Institute, published a report that predicted, "The long-term consequences of trade wars (and tariffs imposed in 2020) on US agriculture remain concerning, as ...