Modi & Trump giving their economies self-inflicted wounds: Jairam
The global markets have been sent into a tailspin after the White House announced tariffs on several countries, including India, China, and the European Union. The Sensex opened over 3,900 points lower, while the Nifty opened over 1,000 points below. Amidst the chaos, Congress leader Jairam Ramesh has come out strongly against Prime Minister Narendra Modi and US President Donald Trump, accusing them of deliberately inflicting wounds on their economies.
In a tweet, Ramesh said, “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.” His comments come as the global markets are reeling from the impact of the tariffs, which have led to a sharp decline in investor confidence and a rise in uncertainties.
The tariffs, which were announced by the Trump administration, are aimed at protecting American industries and workers from what is seen as unfair competition. However, critics argue that the tariffs will ultimately harm American consumers and businesses, as well as those in other countries that are affected.
Ramesh’s comments are not the first to criticize the economic policies of Modi and Trump. Many economists and experts have argued that their protectionist policies are harmful and will ultimately lead to a decline in global trade and economic growth.
Modi’s government has been accused of implementing policies that are protectionist and anti-business, including the demonetization of high-denomination currency notes and the introduction of a goods and services tax (GST). These policies have been criticized for causing economic uncertainty and harming small and medium-sized businesses.
Trump’s tariffs, on the other hand, have been criticized for being unpredictable and arbitrary, with many countries feeling that they are being targeted unfairly. The tariffs have also been seen as a form of economic retaliation, with many arguing that they are a response to the tariffs imposed by other countries.
The impact of the tariffs is already being felt, with many industries and businesses affected. The automotive sector, for example, is feeling the pinch, with many manufacturers warning of job losses and production cuts. The agriculture sector is also being impacted, with many farmers struggling to sell their products due to the tariffs.
In addition to the economic impact, the tariffs have also been criticized for being a form of economic nationalism, which is seen as a threat to global trade and economic stability. Many experts argue that the tariffs will ultimately harm American consumers and businesses, as well as those in other countries that are affected.
Ramesh’s comments are likely to add to the growing criticism of Modi and Trump’s economic policies. While both leaders have been popular with their supporters, their policies have also been criticized for being harmful and short-sighted.
In conclusion, the impact of the tariffs on the global economy is already being felt, and the criticism of Modi and Trump’s economic policies is likely to continue. While both leaders have their supporters, their policies are also being criticized for being harmful and short-sighted.
Source: https://x.com/Jairam_Ramesh/status/1909116322992009326
