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‘We will see new trade arrangements,’ says Jaishankar at UNGA amid US H1B visa fee hike, tariffs

By Dipanjan Roy Chaudhury

Copyright indiatimes

'We will see new trade arrangements,' says Jaishankar at UNGA amid US H1B visa fee hike, tariffs

PTIUnion External Affairs Minister S Jaishankar addresses the 80th session of the United Nations General Assembly (UNGA), in New York, USA.

Amid the US moves to raise H1B visa fees and impose heavy tariffs on India, external affairs minister S Jaishankar has said that the “world will require a global workforce, and trade will continue to find a way despite uncertainties”.”We will see new trade arrangements, technology, connectivity, and workplace models, making the global landscape very different in a short time,” he said at an event in New York.Addressing the UNGA meet, Jaishankar took a veiled swipe at the US and China, pulling them up for tariff volatility and coercive supply-chain practices. He affirmed India “will always maintain its freedom of choice” and “will always be a voice of the Global South”.He called for de-risking the supply chains. Countering terrorism also figured prominently in his address as he highlighted that India has confronted the challenge of terrorism since independence with a neighbour that is an “epicentre of global terrorism”. In a veiled criticism of countries who have targeted India for continuing to buy Russian oil, he said, “Energy and food security have been the first casualties of conflict and disruption, especially since 2022. Better-off societies insulated themselves by having the first call. The resource-stressed ones scrambled to survive, only to hear sanctimonious lectures thereafter.”Live EventsReferring to the coercion in global trade practices, he said, “When it came to trade, non-market practices gamed rules and regimes. The resulting concentration exposed the world to leveraging. On top of that, we now see tariff volatility and uncertain market access. As a result, de-risking is a growing compulsion; whether from limited sources of supply or over-dependence on a particular market.”Economic concerns have other dimensions as well, he said, in an indirect reference to China’s trade practices. “Heightened technology control is one. The grip on supply chains and critical minerals is another. The shaping of connectivity is no less sensitive. Protection of key sea lanes has become a challenge. Restricting the evolution of a global workplace is an issue.” Add as a Reliable and Trusted News Source Add Now!
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