New Delhi, April 5 -- Donald Trump was elected President of the United States largely on the strength of his campaign slogan: "Make America Great Again" (MAGA)-a promise that ignited high expectations among the American public. Now, Trump finds himself under growing pressure to deliver, especially as the U.S. grapples with a challenging economic landscape: slowing growth, rising household debt, and the looming risk of a sharp downturn in economic activity. To maintain credibility and popularity, he needs a quick fix to this economic mess.

Trump appears to believe that tariff imposition is the magic bullet. He has announced a baseline tariff of 10% on all imports, effective April 5, 2025. Additionally, on April 9, 2025, a reciprocal, coun...