Donald Trump imposed 50% tariffs on most US imports from India, making good on a threat to punish one of the world’s largest economies over its purchases of discounted Russian oil.
The tariffs, which came into effect just after midnight on Wednesday in Washington, risk inflicting significant damage on the Indian economy and further disrupting global supply chains.
US tariffs of 25% on Indian goods went into force earlier this month, but Trump announced plans to double the rate, citing New Delhi’s purchases of Russian oil, which the White House has argued is indirectly funding Russia’s war against Ukraine.
Oh for sure, the proxy war on Russia was the catalyst for creating an alternative financial system that’s making it possible for countries to trade outside the dollar right now.
Exactly. If the USA wanted for go after Russia, they could have used other tools, ones that not other countries have agreed to use as freely. It was such an incredibly shortsighted move. Or, something that could be perceived as a desperate move. Since is not as if the USA is or was short on other options.
Any country with common sense would look at that action and be weary. If I was a world leader, I would be. I would certainly look at what my other choices in trade are or could be, if just in case. A direct or proxy war is not even needed, perhaps just a geopolitical or bad trade dispute could fuck your economy if the Bald Eagle decides to cut you off. It is just too high a risk to ignore.