For countries, including Pakistan, that have 'imposed partial regime with effect of preventing importation of certain forced labour goods', USTR proposes an additional 10% tariff.
As a former senior US trade official during the first Trump administration, I well understand the difficulty others have in trying to make sense of the developments over the past several weeks.
American shipments made up 55% of LPG imports in May, while strong inflows from Russia and Venezuela helped offset disruptions in Middle Eastern crude supplies.
An oil shock, monsoon fears, rampant unemployment, and the seeming inevitability of inflation are common to both eras. Indira Gandhi’s self-destructive responses are instructive today.
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