India managed a third straight month of international trade growth in May with a 4.0% year over year improvement led by a 4.3% rise in imports and a 3.6% increase in exports. Yet, a widening trade spat with the U.S. may prove a limiting factor going forward. The loss of reduced tariffs under the Generalized System of Preferences may cut exports to the U.S. worth $6.5 billion, or 2.0% of total Indian exports globally. The Indian government’s reaction of belatedly applying retaliatory tariffs against America’s section 232 metals duties could cut imports worth $1.5 billion in the 12 months ...