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India's experiment with liberalisation, though short-lived, left it with a $53 bn trade deficit with China.

The rupee tumbled on account of buying of American currency by banks and importers.

The domestic unit on Monday skidded to its lowest in two weeks, falling 28 paise to end at 68.88.

The RBI would not want a repeat of a 2013-like situation when there was extreme pessimism.

While Trump's ire is mainly directed towards large trading partners like Europe, China, Canada and Mexico, India is also in his crosshairs.

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"We need to champion openness outside and we need to be more open ourselves."

"We look forward to it (meeting with Xi). I've spoken to him numerous times on the phone. We look very much forward to it," Trump said.

The former US vice president added that today globalisation is more about security and not what people think.

Cautioning that world trade growth may slow down this year, Lamy said, the multilateral trading system is likely to feel the protectionist ...

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