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India Wields the Tariff Stick Against Pakistan as Total Imports Wane

Energy - PetChem 16 India 404 Materials - Chemicals 160 Pakistan 18 Tariffs 1614 Trade Balance 849

India’s international trade activity increased by just 1.4% year over year in January. While that was marginally better than December it included imports that were unchanged year over year. The latter was largely down to a collapse in import of commodities including crude oil products, down 3.6%, an ferrous minerals which fell 48.9%. That would suggest the Indian government’s use of import tariffs under the “Make in India” policy has yet to make meaningful inroads on a broad-basis. The government is also using tariff policy as part of its broader geopolitical strategy, including a report...

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