At the first Aravali Summit hosted by Jawaharlal Nehru University, External Affairs Minister S Jaishankar highlighted the growing uncertainty in international trade caused by global tariff volatility and shifting economic policies. His remarks came amid renewed trade tensions following the United States&rsquo; decision to sharply increase tariffs on Indian exports.
Jaishankar emphasised that global trade structures are undergoing major disruptions due to uneven manufacturing distribution, with nearly one-third of global production concentrated in a single region, widely viewed as China. This imbalance has intensified global supply chain vulnerabilities and reshaped the dynamics of world commerce.
He also noted how the rise of protectionist sentiments and unpredictable tariff changes are forcing nations to rethink long-held economic assumptions. The evolving energy order, with the US emerging as a top fossil fuel exporter and China leading in renewables, has further altered trade strategies worldwide.
The minister discussed additional factors transforming global finance, including sanctions, asset seizures, cryptocurrency adoption, and intensified competition for critical minerals. He underlined that these developments are reshaping geopolitical power balances, challenging traditional globalisation models, and compelling India to craft resilient strategies to sustain its growth amidst turbulence.
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S Jaishankar warns of rising tariff volatility and strategic shifts in global trade

Global Trade Faces Tariff Shock: Jaishankar

S Jaishankar warns of rising tariff volatility and strategic shifts in global trade

October 7, 2025 | 14:48 IST