Title: Modi & Trump Giving Their Economies Self-Inflicted Wounds: Jairam
The global markets have been sent into a tailspin after the White House announced tariffs, causing widespread panic and uncertainty among investors. The Sensex opened over 3,900 points lower, while the Nifty opened over 1,000 points below. Amidst this chaos, Congress leader Jairam Ramesh has taken to social media to criticize Prime Minister Narendra Modi and US President Donald Trump, stating that both leaders are experts in giving their economies self-inflicted wounds.
Ramesh, a seasoned politician and economist, expressed his concern over the reckless decision-making by the two leaders, which he believes will have far-reaching consequences for their respective economies. In a series of tweets, Ramesh stated that the tariff wars will only lead to a vicious cycle of retaliation and counter-retaliation, ultimately harming the global economy.
“It’s no wonder that Mr. Modi and Mr. Trump describe themselves as good friends. Both are experts in giving their economies self-inflicted wounds,” Ramesh tweeted. “Mr. Modi’s obsession with demonetization and GST has already crippled the Indian economy, and now Mr. Trump’s tariff wars will further exacerbate the situation. The Indian economy was already reeling from the twin shocks of demonetization and GST, and now this new tariff war will only add to the woes.”
Ramesh’s comments come at a time when the Indian economy is struggling to recover from the aftermath of demonetization and GST. The economy has been experiencing a slowdown, with GDP growth rate dipping to a five-year low. The introduction of GST has led to widespread criticism, with many arguing that it has increased the burden on small and medium-sized enterprises.
Similarly, the US economy has been experiencing a slowdown, with many experts attributing it to Trump’s trade policies. The introduction of tariffs on Chinese goods has led to a retaliatory response from Beijing, resulting in a full-blown trade war. The US economy has been experiencing the effects of the trade war, with many industries, including agriculture and manufacturing, feeling the pinch.
Ramesh’s comments have sparked a heated debate on social media, with many experts and economists weighing in on the issue. Some have argued that the tariff wars are a necessary evil, citing the need to protect domestic industries and create jobs. Others have argued that the tariffs will only lead to a rise in prices and a decline in consumer spending.
Despite the differing opinions, Ramesh’s comments highlight the concerns of many economists and experts who believe that the tariff wars will have far-reaching consequences for the global economy. The crisis has sparked a sense of urgency among policymakers, who are scrambling to find a solution to the crisis.
In the meantime, Ramesh’s comments have added to the growing criticism of Modi and Trump’s economic policies. Many experts have criticized the two leaders for their handling of the economy, citing the need for more prudent and sustainable economic policies.
As the global markets continue to reel from the impact of the tariff wars, it remains to be seen how the two leaders will respond to the crisis. Will they continue to dig in their heels, or will they seek a diplomatic solution to the crisis? Only time will tell.
News Source:
https://x.com/Jairam_Ramesh/status/1909116322992009326
