Philippe Varin, Chair of the International Chamber of Commerce, has expressed concern about the potential impact of higher tariffs on China by the incoming Trump administration.

He acknowledges that India may benefit in the short term from increased duties on Chinese goods, but warns of potential long-term consequences on global trade, including retaliatory measures that could affect both imports and exports.

Varin emphasizes that raising tariffs in the U.S. could lead to domestic inflation and hinder economic growth. He also notes that while the "China plus one" strategy may offer some advantages to India in the long run, the overall outlook remains uncertain. Trump's plans to impose high tariffs on Chinese products, such as steel, could further complicate the trade landscape for countries like India.