A Faustian Bargain for the Global South by Jayati Ghosh

The spotlight on US President Donald Trump’s tariffs is distracting attention from a broader strategic effort by the United States and other major powers to preserve their technological dominance at the expense of the developing world. Two recent trade deals reveal how this approach undermines long-term economic development.

NEW DELHI – US President Donald Trump’s tariff policies have unleashed global economic turmoil and a wave of protectionist measures. While many of his frequently changing tariffs may prove short-lived, their use as geopolitical weapons is poised to reshape international trade for years to come.