DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA ● REG.NO. MCS/067/2018 - 20 RNI REGN. NO. 1543/57 JOURNALISM OF COURAGE FRIDAY, APRIL 4, 2025, MUMBAI, LATE CITY, 18 PAGES `5.00 ● WWW.INDIANEXPRESS.COM SINCE 1932 SHOCK THERAPY SENDS U.S. MARKETS PLUNGING: DOW DOWN 3.4%, NASDAQ CRASHES 5.8%, OIL SLIDES 6% Trump Tariffs the World India exports hit with 27% tariff, Asian peers face higher duties Trump shreds old globalisation map, what India needs for the road ahead RAVI DUTTA MISHRA AS US President Donald Trump brings the curtains down on the age of globalisation, India will have to unlearn much of its approachtointernationaltradedeveloped since the early 1990s. Prime Minister Narendra Modi’s visit to Washington in February, the government’s intensetradetalkswiththeTrump Administration over the last few US PRESIDENT Donald Trump launched the most aggressive global tariff war yet, even by his own standards set in the first term, dealing a blow to the postWorld War II liberal trade order that America helped build. He set the reciprocal tariff for India at 27 per cent, lower than many Asian rivals, but one that would impactexportingsectorssuchas gems and jewellery, and auto components. The announcements roiled marketsThursdaymorningwith the Dow industrials dropping 1,450 points, or 3.4 per cent, and the Nasdaq plunging 5.8 per cent. The turmoil didn’t stop with the stock markets; oil slid more than 6 per cent and the dollarfelltoitslowestlevelof the year dropping 2 per cent against the euro and Japanese yen. On Wednesday, Trump claimed his tariffs will “reverse the economic damage left by the previousadministration”andput America on a path to a “new golden age”. As a first step in resetting the trade order, he imposed a blanket 10 per cent tariff on all countries. He followed this upwithindividualreciprocaltariffratesonnationswithwhichthe UShasahightradedeficit,pulling globalstockindicesdownandin- BY UNNY HOW TO TRUMP TARIFFS By SHOUMITRO CHATTERJEE AFTER THE TARIFFS AGGAM WALIA & RAVI DUTT MISHRA creasing the odds of a US recession that could eventually slow global trade growth. Trump slapped tariffs of 1020 per cent on Western partners suchastheUKandtheEuropean Union, but his focus remained firmlyonChinaandcountriesreceiving significant Chinese THE TRUMP administration’s imposition of 27 per cent duty onimportsfromIndiaissettohit a range of sectors — from gems and jewellery and smartphones to solar photovoltaic modules and auto-components. Steel, aluminium and automobiles,onwhichTrumphadalready imposed 25 per cent tariffs earlier in March, will not PAGE 8 CONTINUED ON PAGE 2 TISS admissions to be based on CUET alone; interviews scrapped PALLAVI SMART MUMBAI, APRIL 3 INAmajorshiftinitsadmissions process, Mumbai’s Tata Institute of Social Science (TISS) has decidedtoeliminateinterviewsand to select students for the 202526 academic year solely on the basisof theirmarksintheCentral University Entrance Test (CUET). The decision has attracted strong opposition from students who claim that scrapping interviews would compromise the inclusive and diverse character of the TISS campus. A tentative timeline announcedbyTISSforadmissionto postgraduate courses has not al- lottedanyperiodtoconductinterviews of short-listed candidates. Confirming that TSS has decided to do away with the interview round, a senior official said, “This decision was taken in order to ensure complete transparency and timely admissions. No other social science institute conducts interviews of candidates for admissions. Due to this additional stage of interviews, our admission would prolong for almost a month longer than others’ and wewouldloseouton students.” Stating that it is also cost-effective to eliminate interviews, the official said the administration believed that the change CONTINUED ON PAGE 2 IN PARLIAMENT 04/04/2025 93 121 149 64 Pharma gains on exemption, but gems, jewellery and auto may take a hit India must negotiate with US, pursue a more ambitious agenda for trade reform BJD SHOWS CHINKS IN OPPOSITION ARMOUR: ‘EXERCISE CONSCIENCE’ BJP: WON’T SNATCH MUSLIM RIGHTS, BILL ENSURES EFFICIENCY PAGE 7 NEW DELHI, APRIL 3 attract the new reciprocal tariffs. The executive order signed by the US President on April 2 also exempts, as of now, certain critical minerals, energy products, pharmaceuticals and bullion, from US tariffs. Asmarketsreactedadversely to the sweeping tariff changes that the US announced for its trading partners, the Indian government said it is engaged with theindustryandexporterstoassess the situation and examine the implications. The Commerce and Industry Ministrysaiditwasalsoidentifying opportunities that may arise due to this new development in American trade policy. In its statement Thursday morning, the Ministry said, “The USPresidentissuedanExecutive Order on Reciprocal Tariffs, imposing additional ad valorem duties ranging from 10 per cent to 50 per cent on imports from alltradingpartners.Thebaseline duty of 10 per cent will be effective from April 5, 2025, and the remaining country-specific CONTINUED ON PAGE 2 MODI UNDERLINES ‘FREE, OPEN’ INDO-PACIFIC Wednesday, Trump was not the only one who spoke. Trump invited Brian Pannebecker, a re● tired auto worker from Detroit, once the heart of the world’s car production, to speak up. Pannebecker had brought along a group of 20 comrades from the United Auto Workers Union, dressed in green jackets and hard hats. Expressing full support for Trump’s tariff war, CONTINUED ON PAGE 2 In dark cloud, a few silver linings for India: Tariff level, trade talks, reforms US President Donald Trump announces the new tariffs at the White House Wednesday. AP THE EDITORIAL PAGE E days, and its cautious response to the imposition of 27 per cent tariffs on Indian imports underline Delhi’s recognition of the dramatic shift in America’s domestic politics on trade, the historic turn in the evolutionof theglobaleconomic order and the need for a prudent handlingof thecurrentmoment. At the White House Rose Garden ceremony announcing a sweeping tariff war against America’s trade partners EXPLAINED NEW DELHI, APRIL 3 BUSINESS AS USUAL NEW DELHI, APRIL 3 PAGE 1 ANCHOR C RAJA MOHAN ANIL SASI NEW DELHI, APRIL 3 US PRESIDENT Donald Trump’s announcement Wednesday of sweeping tariffs has deepened global anxiety and sent nations scrambling to respond. In the portents of dark economic clouds,thereare,asof now,three silver linings for India: Comparative advantage PAGES 11,15, 14 Tariffsworkonacomparative basis,andwhilethelevyimposed byonecountryonanotherisimportant, more consequential is VIRGIN ATLANTIC FLIGHT EMERGENCY LANDING 260 passengers to Mumbai from London stranded at Turkey airport for over 24 hrs the tariff rate applied on the latter’s competitors. So,whilethetariff slappedby theUSonIndiaiskey,whatcould be more important is the tariff rate proposed for, say China, Bangladesh or Vietnam. Aspertheannouncement,the US will impose a 10 per cent base tariffonallcountriesfromApril5, and an individualised reciprocal highertarifffromApril9oncountrieswithwhichWashingtonhas the largest trade deficits. In India’s case, once the first phase of the universal 10 per cent tariff takes effect on April 5, a 17 per cent tariff will kick in CONTINUED ON PAGE 2 Supreme Court judges to make their assets public Decision after CJI Sanjiv Khanna proposed it at full court meeting APURVA VISHWANATH & ANANTHAKRISHNAN G NEW DELHI, APRIL 3 PM Narendra Modi with Thailand PM Paetongtarn Shinawatra in Bangkok on Thursday. PTI India, Thailand plan: Strategic partnership, strategic dialogue SHUBHAJIT ROY NEW DELHI, APRIL 3 AS PRIME Minister Narendra Modi met Thailand’s Prime Minister Paetongtarn Shinawatra in Bangkok on Thursday, the two countries agreed to upgrade their relations to a “strategic partnership”. Modi underlined that Thailand holds a special place in India's Act East PolicyanditsIndo-Pacificvision. Modi, who arrived in Bangkok on a two-day visit on Thursday, will attend the 6th BIMSTEC leaders’ summit on Friday. In his departure statement, Modi described BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) as a significant forum for promoting regional development, connectivity and economic progress in the region. Following his meeting with Shinawatra ahead of the BIMSTECsummit,Modisaid:“Today, we have decided to strengthen our ties into a strategic partner- ship. Also, we discussed establishing a 'strategic dialogue' between our security agencies.” A strategicdialoguebetweensecurity agencies points to the development of a strong partnership asthetwosidesdealwithcrimes and maritime security issues. “We thanked the Government of Thailand for their cooperation in facilitating the return of Indian victims of cybercrime. We have agreed that our agencies will collaborate closely to combat human trafficking and CONTINUED ON PAGE 2 Passengers stranded at the Diyarbakir Airport in Turkey on Thursday. Courtesy: A passenger SIDDHANT KONDUSKAR MUMBAI, APRIL 3 AROUND 260 passengers travelling from London to Mumbai were stranded for over 24 hours at the Diyarbakir Airport (DIY) in Turkey,wheretheVirginAtlantic flight they were flying made an emergency landing on Wednesday due to a medical emergencyonboardandlaterdeveloped a technical issue. The passengers on the flight, VS358, an Airbus A350, from London Heathrow (LHR) to Mumbai(BOM),allegedthatthey had minimal assistance at DIY. Theflight,whichtookofffrom London as per schedule, was divertedaftera17-year-oldgirlsuffered a panic attack mid-air. Following request from the familyformedicalassistance,thecrew made an emergency landing at DIY—afacilityprimarilyusedasa military base with limited infrastructure to handle large commercial aircraft. Passengers on Thursday described the landing as rough, with the aircraft bouncing in the CONTINUED ON PAGE 2 IN A significant decision, all 31 judgesof theSupremeCourtwill publicly declare their assets, The Indian Express has learnt. The declaration made to the Chief Justice of India is likely to be uploaded on the Supreme Court website. Sourcessaidthedecisionwas taken at a full court meeting on April 1. The full court had met to consider senior advocate designations for at least six former High Court judges. CJI Sanjiv Khannaislearnttohaveproposed the issue and he even assuaged the concerns of a few judges. While an official notification of the full court decision is awaited, it is learnt that the modalities and timeline for implementation are still being worked out. Judges could be CONTINUED ON PAGE 2 Meet Prayagraj petitioners: ‘Given two hours before homes razed’ MANISH SAHU PRAYAGRAJ, APRIL 3 A DAY after the Supreme Court termed the 2021 demolition of houses in Prayagraj as "inhuman and illegal”, Vijay Kumar Singh (46), whose home was among thosedestroyed,feltasenseofrelief.Thecourt’sacknowledgment that authorities had failed to follow due process was a longawaitedvalidationofhisstruggle. “Noonecantrulyunderstand what we went through after the demolition,” said Singh, who runs a medical store in Prayagraj’s Beniganj area. “I bought the house just nine monthsbeforeitwastorndown, andafterthat,Iwasforcedtolive on rent again.” Vijay Kumar Singh’s rented house is just 800 metres from the plot where he once owned a home — a place that now exists only in his memories. Wanting to stay close to the life he had built, he found a house in the same locality. “After the demolition, we had nowhere to go. In that moment of crisis, we took shelter at a relative’s house. A few days later, we moved into a rented home,” he said. “I had put all my savings into buying that house. Now, at 46, I am starting over, trying to rebuild from nothing.” Singh, who lives with his wife Vandana and their two young children, avoids passing by his old home. “It’s too painful,” he said. “Every time I see that place, it reminds me of everything we lost.” Singh is one of the five petitionerswhomovedtheSupreme Court against the demolition of their houses by local authorities. The site where the homes once stood. SC has ordered local authorities to pay Rs 10 lakh each to petitioners. Vishal Srivastav On Tuesday, the Supreme Court directed the Prayagraj Development Authority to compensate each affected homeowner with Rs 10 lakh within six weeks. The petitioners' lawyer had argued that the state government wrongly demolished houses, assuming the land belonged to gangster-politician Atiq Ahmed, who was shot dead in 2023. “We still don’t understand the rush to demolish our houses,” said Singh, a pharmacy diploma holder. "On Saturday (March6,2021),PDAofficialsde- livered notices instructing us to vacate. We immediately held a meeting and moved court the next day, but before an order could be passed, authorities arrived in the morning with a heavypoliceforceandbeganthe demolition. We were given just two hours to gather our belongings," Singh said, adding that the notices were deliberately timed to prevent them from securing relief from the court. ‘A moral victory’ Another petitioner, Professor Ali Ahmed Fatmi, spoke to The Indian Express over the phone. He said the judgment had brought them relief, and he was gratefultotheSupremeCourtfor acknowledgingthewrongdoing. "The compensation ordered by thecourtmaybesmall,butwhat matters is that the court recognised our pain and affirmed that the authorities acted illegally," he said. "This is not the right way to carry out a demolition — issuing a notice on the evening of March 6, 2021, and bulldozing houses the very next morning without CONTINUED ON PAGE 2