India can leverage US tariff threat for mutual reductions: Panagariya

Arvind Panagariya, Chairman of the 16th Finance Commission, suggests India leverage the US threat of reciprocal tariffs to secure mutual tariff reductions, fostering a win-win situation. He warns of the negative consequences of a tariff war. The US-India bilateral trade reached USD 190.08 billion in 2023, with a significant trade surplus for India.