Congress MP Shashi Tharoor on Tuesday said that the tariffs imposed by the Trump administration have completely shaken up the world and stated that India's main hope lies in very doing an effective negotiation with the Americans for a bilateral trade agreement. He also expressed concern over the fallout of these tariffs on some countries.

On US tariffs, Congress MP Shashi Tharoor told ANI, "It's not only our share market... Our share market has gone down less than many other share markets. They're seeing a couple of trillion dollars lost in the American share market. 3% of our market went down, 9% of their market went down. It's a very dismaying situation. These tariffs have completely shaken up the world economy... It has created a lot of negative factors throughout the world. There are genuine fears that many countries may face a recession... From India's point of view, our main hope lies in very doing an effective negotiation with the Americans for a bilateral trade agreement... The situation is very unpredictable. Some people were drawing some hope from the fact that other countries who are our competitors, had even higher tariffs upon them than we did. But they are also negotiating now..."