External Affairs Minister S. Jaishankar on Wednesday acknowledged the growing use of tariffs and sanctions in global trade, stating that whether people “like it or not,” such measures have become a reality as countries seek to protect their economic interests.
Speaking at the Raisina Dialogue panel discussion titled “Commissars and Capitalists: Politics, Business and the New World Order,” Jaishankar highlighted how international relations have evolved, blurring the lines between politics and economics.
“Tariffs, sanctions—I think, whether we like it or not, they are a reality. Countries use them. In fact, if one looks at the last decade, I would say we have seen a much greater weaponization of pretty much any kind of capability or economic activity. It could be financial flows, energy supplies, or technology,” Jaishankar stated.
His remarks come amid the United States imposing tariffs on various imports, including Indian goods. The discussion also took place in the backdrop of rising trade protectionism globally.
Jaishankar emphasized that trade policies are not just about business but also about national power and employment.
“This is a reality of the world. You fight for your business because you are fighting for your employment, you are fighting for your comprehensive national power, of which business makes a very important contribution,” he said.
He further noted how evolving international relations have led to a more aggressive global trade environment.
“The lines dividing different domains have eroded. If you look at international relations today, I think it’s a less restrained culture than it was a decade ago,” he added.
Jaishankar’s remarks follow recent comments from White House Press Secretary Karoline Leavitt, who criticized tariffs imposed by various countries on American goods, including Indian agricultural products and alcohol.
“I have a handy chart here that shows not just Canada but the rate of tariffs across the board. If you look at Canada, since you brought it up, American cheese and butter have a nearly 300 percent tariff,” Leavitt said during a press briefing.
She added that U.S. President Donald Trump advocates for “reciprocity” in trade and seeks fair and balanced global trade practices.
Jaishankar’s comments reinforce India’s pragmatic stance in navigating the complexities of global trade and geopolitics, emphasizing economic self-reliance while adapting to shifting international dynamics.
