Nepal in a Tariff Trap: Navigating Protectionism in a Globalized World

Last year, on April 2, the Trump administration declared a nationwide crisis over the national trade deficit, citing it as Liberation Day, where Trump announced “discounted reciprocal tariffs” for all nations that the United States traded with. Nepal too was affected by this move, with the administration assessing a 10% blanket tariff on imports of Nepalese products into the United States.