“Like it or not, they are a reality”: EAM Jaishankar on the use of tariffs, sanctions

External Affairs Minister S Jaishankar highlighted the reality of there being increased use of tariffs and sanctions by various countries to protect one’s economic interests, and that developing International relations has “eroded” the lines which divide the different domains across countries.

“Tariffs, sanctions, I think, whether we would 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 any kind of economic activity. It could be financial flows, it could be energy supplies, it could be technology,” EAM Jaishankar said, as he was asked on India’s refusing to use tariffs and sanctions on other countries.

Jaishankar made the remarks during the panel discussion “Commissars and Capitalists: Politics, Business and New World Order,” during the Raisina dialogue held in New Delhi today. His remarks come amidst the United States announcing various tariffs on the import of goods from various countries, including from India.

“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,” Jaishankar said.

Underlining the developing international relations across the globe, he added, “I think today, the lines dividing different domains have eroded. If you see in international relations, I think it’s a less restrained culture today than it was a decade ago.”

Earlier on March 13, White House Press Secretary Karoline Leavitt, while lamenting the tariffs imposed by various nations on the United States, referred to the tariffs imposed by India on American alcohol and agricultural products.

“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 per cent tariff,” Leavitt said.

While addressing a press briefing she said that US President Donald Trump believes in reciprocity and wants to have fair and balanced trade practices.