NEW DELHI: Finance Minister Nirmala Sitharaman warned on Wednesday that global trade is increasingly “weaponised” through tariffs and other barriers, urging India to negotiate cautiously while leveraging its economic strength amid rising protectionism.
Sitharaman highlighted US duties—including 25% on India for trade deficits and another 25% tied to Russian crude purchases—as examples of trade turning combative, alongside Mexico’s upcoming 50% hikes on Indian imports from 2026. She rejected India’s “tariff king” label, stressing tariffs protect domestic industries from unfair “predator” flooding without aggressive intent.
India must address not just tariffs but overall resilience, as free and fair trade norms erode and new players impose barriers without scrutiny, she said at an event. Discussions with Mexico are underway to soften tariff impacts.
