The Return of Tariffs: A Trade Saga with Trump

Senior Congress leader Jairam Ramesh highlighted the resurgence of the term 'tariff' under US President Donald Trump's administration. He explained the word's historical origins and commented on India's strategy to assess the impact of Trump's America First Trade Policy on bilateral trade and potential tariff escalations.

Senior Congress leader Jairam Ramesh has observed the resurgence of the term 'tariff' in everyday language, attributed to the policies of US President Donald Trump. Ramesh noted that Trump frequently employs the term in his trade discourses.

Tracing its linguistic roots, 'tariff' derives from the Venetian trade interactions with the Arab world, originating from the Arabic term 'arrafa', meaning 'notify'. This evolved into the Italian 'tariffa' and later entered the English language via French influences. Ramesh shared this intriguing history in a post on platform X.

As India examines the potential impacts of Trump's America First Trade Policy on its trade relations with the US, sources indicate readiness to respond tit-for-tat if faced with increased tariffs. Trump's memorandum directs the USTR to identify countries for trade negotiations aimed at expanding American export markets, a move considered favorable for India.

(With inputs from agencies.)