Recent discussions highlight the shifting dynamics of global trade, particularly in relation to U.S. tariffs and China's economic policies. Analysts note that the U.S. has disrupted the global trading order, leading to rising trade barriers and protectionism, with China's opaque subsidies contributing to economic imbalances. As the S&P 500 has decreased by 9% from its peak, contrasting with rising benchmarks in Hong Kong and Europe, experts suggest this may indicate a fundamental change in trade relations. India's policymakers express confidence in using tariffs as a tool to enhance negotiating leverage, despite concerns over a $100 billion trade deficit with China and the potential for industrial displacement. The discourse emphasizes the need for India to act swiftly in response to these evolving trade challenges.