High tariffs once criticised by rich nations now back in global trade debate: Sources

NEW DELHI: (Apr 19) Imposition of high tariffs to protect domestic industries, once criticised by developed nations, is back in global trade and the rationale for levying such duties, which was earlier championed by developing countries, is also making a comeback in trade talks, sources said.

Without naming countries like the US, they also said that now the advanced economies are also talking about protecting livelihood of fishermen and farmers.

Now, the whole concept that livelihood fishing and farming are different from commercial activities is making a comeback. The same principles once raised by developing countries – previously dismissed – are now resurfacing in global discussions, they added. PTI