Jaishankar urges Global South to unite for fair trade amid Trump's tariffs

External Affairs Minister S Jaishankar has urged members of the Global South to reduce dependence on any single supplier or market by setting up streamlined supply chains while promoting fair economic practices. He also stated that Global South countries should enhance South-South trade and collaboration in the field of technology.

Jaishankar’s comments come at a time when US President Donald Trump’s move to impose stiff tariffs on his country’s trading partners has rattled the global economy. Trump has imposed a 25 per cent retaliatory tariff on India over its purchase of Russian oil, which, along with the earlier 25 per cent reciprocal tariff, has pushed the US tariff rate on Indian goods to 50 per cent.

‘Global South facing tough challenges’

Speaking at a meeting of Like-Minded Global South Countries on the sidelines of the 80th session of the United Nations General Assembly on Tuesday (September 24), Jaishankar said that the Global South is facing a series of challenges including pandemic shocks and wars in Ukraine and Gaza to extreme climate events, volatile trade, uncertainty in investment flows and interest rates, and the "catastrophic" slowing down of the Sustainable Development Goals (SDG) agenda.

“We meet in increasingly uncertain times, when the state of the world is a cause for mounting concern for member states,” said Jaishankar.

"In the face of such proliferation of concerns and multiplicity of risks, it is natural that the Global South would turn to multilateralism for solutions," he added.

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‘Multilateralism under attack’

The EAM said that the very concept of multilateralism was under attack, adding that international organisations were being rendered ineffective or "starved of resources". "The building blocks of the contemporary order are starting to come apart. The cost of delaying much-needed reforms is today starkly visible," said Jaishankar.

He also urged members of the Global South to unite in demanding a level playing field in the international system. Jaishankar said that to boost and sustain economic security, developing nations should come up with resilient, reliable and shorter supply chains that reduce dependence on any single supplier or any single market.”

The minister also emphasised the protection of global commons, including addressing maritime shipping concerns; a collaborative leveraging of technology for development, especially the creation of a digital public infrastructure; and a fair and level playing field in different domains that do justice to the developmental concerns of the Global South.

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Steps to strengthen collective voice

Outlining a structured approach for how the Global South can engage with world affairs, Jaishankar proposed five key steps to strengthen the collective voice and influence of the developing nations.

He emphasised the importance of utilising existing forums to strengthen consultations among the Global South with a view to "enhance solidarity and encourage collaboration".

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Comprehensive reform of UN

Jaishankar also called for comprehensive reform of the UN and "multilateralism as a whole".

He said the Global South must bring its specific strengths, experiences and achievements to the international stage to benefit fellow nations, citing "vaccines, digital capabilities, education capacities, agro-practices and SME (Small and Medium Enterprises)" as key examples.

Jaishankar urged the Global South to take steps to safeguard its own interests with regard to issues like climate action and climate justice, adding that the Global South should come up with initiatives that serve its interests, rather than merely aligning with the perspectives of the Global North.

(With agency inputs)