India - Recent U.S. President Donald Trump's policies could impede the development of free trade and undermine the process of globalization, cautioned Indian professor and expert in trade S. Parameswaran. On Feb 13, Trump signed an executive memorandum titled "Reciprocal Trade and Tariffs", outlining the administration's intentions to impose tariffs on imports at the same level as its trading partners do on American goods. The decision has drawn widespread attention and strong reactions globally. "First of all, it indicates a significant reversal of the globalization process, particularly the free trade regime. And particularly this tariff is on basic goods. It has a cascading effect on all the other consumer durables like steel, like cars. So, U.S. consumers will suffer. Competitiveness may suffer, so it is not a wise decision," Parameswaran said. He also highlighted the irony of potential trade barriers arising around the world due to the actions of the country that initially paved the way for global trade liberalization. "The U.S. was the major advocate of free trade. They played an important part behind the WTO in making the free trade, liberalizing other countries, their trade. Now they are reversing that trend. Other countries may also adopt the same strategy, then. It is a reversal of the globalization process, because all other countries are following the same strategy or they are getting into a trade war," he said. Among the impacts of the tariffs, consumers are likely to bear the brunt, Parameswaran warned. "Definitely it will increase the commodity prices and the variety of commodities available will decline, because the major benefit of free trade is that consumers will get commodities at a relatively lower price and also a variety of commodities. Even if it is not produced here, the consumers [can get] access to a variety of goods produced in the world. Now, once you are [faced with] tariff barriers, that option is not [available.] [It] will be limited," said the scholar. The video shows: FILE: Washington D.C., USA - Jan 20, 2025 1. Various of White House, traffic India - Recent 2. SOUNDBITE (English) S. Parameswaran, Indian trade expert (starting with shot 1/partially overlaid with shots 3-6/ending with shot 7): "First of all, it indicates a significant reversal of the globalization process, particularly the free trade regime. And particularly this tariff is on basic goods. It has a cascading effect on all the other consumer durables like steel, like cars. So, U.S. consumers will suffer. Competitiveness may suffer, so it is not a wise decision. That is the one thing. Second thing is that, the U.S. was the major advocate of free trade. They played an important part behind the WTO in making the free trade, liberalizing other countries, their trade. Now they are reversing that trend. Other countries may also adopt the same strategy, then. It is a reversal of the globalization process, because all other countries are following the same strategy or they are getting into a trade war." ++SHOTS OVERLAYING SOUNDBITE++ FILE: New York City, USA - October 2024 3. National flags of U.S. FILE: Washington D.C., USA - Jan 20, 2025 4. Various of Capitol building, traffic FILE: New York City, USA - October 2024 5. Various of buildings, traffic, pedestrians FILE: Washington D.C., USA - May 12, 2020 6. White House ++SHOTS OVERLAYING SOUNDBITE++ FILE: New York City, USA - October 2024 7. Various of port, Statue of Liberty FILE: Washington D.C., USA - May 12, 2020 8. White House India - Recent 9. SOUNDBITE (English) S. Parameswaran, Indian trade expert: "Definitely it will increase the commodity prices and the variety of commodities available will decline, because the major benefit of free trade is that consumers will get commodities at a relatively lower price and also a variety of commodities. Even if it is not produced here, the consumers [can get] access to a variety of goods produced in the world. Now, once you are [faced with] tariff barriers, that option is not [available.] [It] will be limited." FILE: Los Angeles, USA - Nov 9, 2017 10. Various of containers, cranes at port [Restrictions: No access Chinese mainland]