Trump’s tariff weapon
Apropos ‘US tariffs may flood India with cheap Chinese steel’, (February 11). US President Donald Trump’s use of tariffs as a blunt weapon to extract concessions on everything from commerce to immigration and drug trafficking could redraw global trading norms. Trump sees tariffs as a way to raise revenue, remedy trade imbalances and pressure countries to act on US concerns.
Trump’s tactics could lead to a retraction of global supply chains .
The membership in the WTO serves no purpose, when one of the biggest countries in the world can threaten tariffs for national security reasons in such an aggressive way. The role of international trade institutions, international trade rules and trade agreements are under threat.
N Sadhasiva Reddy
Bengaluru
Mobilising funds
This refers to the article “Banks may have to change tack” (February 11). Given the surging disposable income of the middle class, the financial sector needs to ensure that the guidelines and regulations are being strictly adhered to while mobilising the resources and deploying them.
Even though the current and savings deposits are less costlier than the term deposits they are not deployable for long-term purposes.
Given the growing need for long-term funds, banks have to look for mobilising term deposits at lower rates.
Ensuring good governance while creating the assets is vital to the growth of returns and credibility. RBI must tighten oversight.
VSK Pillai
Changanacherry (Kerala)
Farm first
Apropos ‘Agriculture set to flourish’ (February 11). Budgetary support to agriculture will augment structural transformation. No doubt that PMDDKY scheme proposed in the Budget will address the structural impediments regarding productivity, irrigation through credit from formal sources.
Creating a marketing platform for the select 100 districts with cold storage facility and MSP will ensure fair prices to farmers.
Crop insurance with timely claim settlement at times of crop failure will ensure seamless agriculture operations. Digital tech must be scaled up through training schemes for farmers.
NR Nagarajan
Sivakasi