Consider three seemingly unrelated developments. “You can’t hire Indians, set up factories in China and park profits in Ireland,” Trump said to US big-tech in mid-July, following this by imposing a 25% effective tariff rate on Indian exports to US, followed up with a further 25% on account of India’s Russian oil trade.
Microsoft briefly stopped providing services to Nayara Energy, a Russian-owned oil refiner in India. India’s flagship fighter programme, LCA, is further delayed as supplies of engines from GE are held up.
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