US economist slams Trump’s tariffs on India

America has announced to impose 50 percent tariff on India which has come into effect from Wednesday. American economist Richard Wolf termed it wrong and said that America is adopting a tough attitude against India and by strengthening BRICS, it is shooting itself in the foot. He said that India is the world's largest democratic country.

America has announced to impose 50 percent tariff on India. This tariff has come into effect from last Wednesday. Meanwhile, many people in America have termed Trump's decision of tariff as wrong.

Meanwhile, American economist Richard Wolf even said that America is acting like the world's toughest man against India, but by insisting on making BRICS an economic alternative to the West, it is shooting itself in the foot.

'Like a rat punching an elephant'

American economist Richard Wolf said that India is the world's largest democratic country. He clarified that America telling India what it should do is exactly like a rat punching an elephant.

'India will export to somewhere else instead of America'

In an interview to Russia Today, American economist Wolf said that if America closes its doors to India, then India will find some other place to export its products. He claimed that this step will strengthen BRICS including India. He also said that just like Russia has found a new market to sell and buy its energy, India will sell its goods to the rest of the BRICS countries instead of America.

Wolf said during his podcast that if you take China, India, Russia and BRICS, then the share of these countries in global production is close to 35 percent. At the same time, the share of G7 has come down to about 28 percent.

Trump has imposed 50 percent tariff on India

It is worth noting that US President Donald Trump has imposed a 50 percent tariff on India as a penalty for buying oil from Russia. The new tariff rates have come into effect from last Wednesday. Let us tell you that this tariff of Trump has been imposed on most of the products. It is noteworthy that Trump has accused India of funding Russia to attack Ukraine.