A STUDY ON THE COVID-19 PANDEMIC’S IMPACT ON THE INTERNATIONAL TRADE OF THE USA AND INDIA

For the year 2020, foreign trade was down, but by 2021, it had rebounded greatly. While global commerce is already above pre-pandemic levels, the consequences of trade on various commodities, industries, and trading partners are vastly different and exert pressure on certain industries. Usually, a four- to five-year shift in the organisation of commerce would occur as a result of the Coronavirus epidemic. However, not all of the losses from the prior sharp drops had been recovered when trade imbalances remained in 2021. Consumers, corporations, and the government all have a greater motivation to deploy new or reinforce existing risk mitigation techniques because of the vast range of trade consequences and trade flows between products and origins and destinations. In the literature review of trade in the USA and India, Economic and trade Challenges were discussed using different research papers. The research methodology of the paper is a secondary qualitative method. The result shows in all cases, the pandemic's negative demand repercussions outweigh its negative supply implications. Extra fixed effects are important since their absolute values diminish.

 

Keywords: International Trade, USA, India, Covid-19, Economy, Export-Import.


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