Richard Wolff, a noted American economist, has come down heavily on the Donald Trump administration over imposing 50 per cent tariffs on Indian imports, saying the US is acting like the “world’s tough guy” against India, but it is only shooting itself in the foot, as it is pushing the BRICS to be an economic alternative to the West.
In an interview with Russia Today on Tuesday, Richard Wolf said Trump’s tariff move, in a “hothouse fashion”, would develop the “BRICS nations to be an ever larger, more integrated, and successful economic alternative to the West”.
The United States on Wednesday doubled its tariffs on Indian goods to as high as 50 per cent, citing New Delhi’s buying of Russian oil – the most punishing rate among US trading partners on a par with Brazil, in a move economists say could hurt growth and jobs.
During the interview, journalist Rick Sanchez and Richard Wolff appeared to have agreed that Washington’s tariff announcement marked a turning point. “The world just changed,” Sanchez said.
“India is now, according to the United Nations, by population the largest country on Earth, having outgrown China, which used to have that position. If the United States, or Mr Trump, continues with threats against India, which has a long historical relationship with Russia going back to the days of the Soviet Union and ever since, they are playing with a very different adversary,” Wolff said.
The US economist said the Trump administration’s decision to impose 50 per cent tariffs on India will empower blocs such as BRICS as India may sell its exports there.
“If the United States shuts itself off to India by big tariffs, India will have to find other places to sell its exports. Just as Russia found another place to sell its energy, India will sell its exports no longer to the United States but to the rest of the BRICS nations,” he said.
“It is described as a historic moment, but for those with some humour, it will be the spectacle of the United States acting like the world’s ‘tough guy’ while it actually shoots itself in the foot,” Wolff added.
‘Russia-Ukraine conflict is PM Modi’s war’: Peter Navarro
Wolff’s comments come even as White House trade advisor Peter Navarro has referred to the Russia-Ukraine conflict as “PM Modi’s war”, criticising India for purchasing discounted crude oil from Moscow.
In an interview with Bloomberg, Navarro blamed India for being the reason behind the US and Europe funding Ukraine against Russia’s aggression.
“Ukraine comes to us and Europe and says give us more money (for its war). Everybody in America loses because of what India is doing. Consumers and businesses lose, workers lose, because India’s high tariffs cause jobs, income and higher wages. The taxpayers lose because we have to fund Modi’s war.” Navarro told Bloomberg.
He added, “The road to peace runs at least partly through New Delhi.”
The White House trade advisor further termed India “arrogant” over prioritising its energy needs and advised it to “side with democracies.”
India has called the tariffs imposed by the US “unjustified and unreasonable”.
New Delhi has said that, like any major economy, it will take all necessary measures to safeguard its national interests and economic security.
