Renowned economist Jeffrey Sachs has sharply criticised US President Donald Trump’s tariffs on India, calling them “bizarre” and “very self-destructive of US foreign policy interests.”
In an
"He said years of hard work in improving US-India relations is being undermined by the Trump administration.
"It's a shocking level
Trump announced 25 per cent tariffs on Indian goods in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent,
Sachs highlighted the legal challenges facing the Trump administration in the wake of tariffs."...Tariffs are wrong in that they're destructive for the US economy. It violates international law. It's a breakdown of our political system in the United States. We have a constitution. We don't have one-person rule," he said, while also referring to powers of the Congress under Article I, Section 8 of the US Constitution.
"There's actually a lawsuit now
The economist said that from an economic point of view as also geopolitical point of view, Trump's policies "are doomed to fail". "They (tariffs) will not improve the US economy. They will isolate the United States geopolitically. They will strengthen the BRICS and other groups...," Jeffrey Sachs told ANI.
"Trump hates the BRICS. Why? Because they stand up and say to the US, you don't run the world. The world is multipolar and we want to cooperate with you, but we don't want you to run the world. President Lula summarized it best. He said, we don't want an emperor. This is basically the point. Trump thinks he's an emperor," he added. On India's diplomatic strategy, Sachs praised the government's measured approach.
"India's right. Take a deep breath. Don't do anything dramatic. Don't get
Sachs praised India’s measured diplomatic response,
India and the US began negotiations for a Bilateral
Commerce and Industry Minister Piyush Goyal told Parliament that the Indian government is closely examining the impact of Trump’s tariffs and will take all necessary steps to safeguard national interests.
With inputs from agencies