Trade Policy Confusion Indian Prime Minister Narendra Modi decried protectionism at the World Economic Forum today. In a speech widely perceived to be an attack on Donald’s Trump’s “America First” policy, Modi follows similar exhortations by Chinese President Xi Jinping at last year’s Forum. The graph below shows differences between the three countries in terms of applied tariffs. However, this ignores the much higher bound tariff rates by India and China as well as their larger number of nontariff barriers. Many in U.S. agriculture, which runs a trade deficit with India, have given up trying to export their products to Modi’s countrymen due to the hostility they face to any imports that would compete wi...