Nixon, who imposed an across-the-board import surcharge in 1971, was more protectionist than Mr Bush.

ECONOMIST: George Bush

To close the fiscal gap, he has resorted to a 5% tax on exports and tourism, a 2% import surcharge and a tax on financial transactions.

ECONOMIST: An incompetent government and a tricky choice for the IMF

Mr Sinha has imposed a flat 8% import-duty surcharge (with some exemptions), and has increased duties still further on several items, such as copper.

ECONOMIST: India

When businessmen complained about an import-duty surcharge of 8%, which was supposed to help them but instead pushed up their costs of production, he halved the surcharge.

ECONOMIST: India