The Global Impact of Trump 2.0 Tariffs, with a Special Focus on India
Bibliographic Data
| ID | 9691609 |
|---|---|
| Authors | Archana Srivastava (0000-0001-9055-6368, corresponding author), Somesh K Mathur Somesh K Mathur, Somesh K Mathur (0009-0008-7372-601X), Prabir De Prabir De, Prabir De (0000-0003-3340-280X) |
| Year | 2025 |
| Volume | 60 |
| Issue | 43-44 |
| Publication date | 2025-11-30 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economic and political weekly/Economic & political weekly (JOURNAL) |
| Journal identifiers | ISSN: 0012-9976 • E-ISSN: 2349-8846 |
| Publisher | Sameeksha Trust (PUBLISHER) |
| DOI | 10.71279/epw.v60i43-44.43009 |
| OpenAlex | W7131873339 |
| Language | EN |
The study uses a computable general equilibrium (CGE) model based on GTAP-11 database to access the potential global impacts of the Trump 2 tariff regime. It simulates a series of unilateral US tariff hikes on China (60%), Mexico and Canada (25%), India, Western Europe and BRICS nations (20%). The General Equilibrium results show nominal GDP growth and welfare gains for the US at the expense of its leading partners, specially Canada, Mexico, and China. If retaliatory tariffs are imposed, some countries (e.g., India, Brazil, Russia, South Africa and Western Europe) can partially mitigate losses or gain modestly. However, trade war results in global welfare and GDP declines. US-India trade deal could offer mutual benefits and partially offset losses. Ultimately, the study highlights the beggar-thy-neighbour nature of protectionism and underscores the importance of multilateral, rule-based trade systems
China · Computable general equilibrium · Free trade · General equilibrium theory · Protectionism · Tariff · Trade barrier · Trade war · Welfare · Canadian Policy and Governance · COVID-19, Geopolitics, Technology, Migration · Economic and Business Studies
| Highly cited | No |
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