India has a fresh chance to become a manufacturing powerhouse with the election of Donald Trump, who has promised to levy sky-high import tariffs on Chinese goods.

The recent Ladakh border deal and prospect of more economic cooperation are promising signs. Yet deep differences remain.

For the second largest economy, China, a big source of concern is tariffs against Chinese products. During the campaign trail, Trump had stated that he would impose at least 60% tariffs on Chinese imports and 20% tariffs on imports from all other countries.

US President-elect Donald Trump campaigned on a promise to take a confrontational approach to China, with tariffs as his weapon of choice. But unless his administration adopts a measured approach, his plans may end up harming American businesses and consumers,