Title: Modi & Trump giving their economies self-inflicted wounds: Jairam
The global markets have been in a state of turmoil following the White House’s announcement of tariffs, which has led to a crash in the Indian stock market. The Sensex opened over 3,900 points lower, while the Nifty opened over 1,000 points below. In the midst of this chaos, Congress leader Jairam Ramesh has criticized Prime Minister Narendra Modi and US President Donald Trump for their economic policies, stating that they are experts in giving their economies self-inflicted wounds.
Ramesh took to Twitter to express his concerns, saying, “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 economy is still reeling from the fallout of the US-China trade war, and the latest tariffs imposed by the White House have only added to the uncertainty.
The tariffs, which were announced by the White House earlier this week, are aimed at addressing what Trump has described as unfair trade practices by China. However, economists have warned that the move will only lead to a trade war and harm the global economy. The Indian stock market, which is heavily reliant on foreign investment, has been particularly affected by the tariffs, with the Sensex plummeting over 3,900 points.
Ramesh’s comments have been echoed by other experts and economists, who have warned that the tariffs will only lead to a trade war and harm the global economy. “The tariffs will only lead to a trade war and harm the global economy,” said economist Pravin Dalal. “It’s a short-sighted policy that will only benefit a few individuals and companies, while harming the majority of the population.”
The Indian government has also been criticized for its handling of the economy, with many experts warning that the country is not prepared to deal with the fallout of a trade war. “The Indian government needs to take a more proactive approach to dealing with the fallout of the trade war,” said economist Arun Kumar. “They need to work with other countries to address the issues and find a solution that benefits everyone.”
The tariffs have also been criticized for their impact on small and medium-sized businesses, which are already struggling to survive in a highly competitive market. “The tariffs will only make it harder for small and medium-sized businesses to survive,” said Rohit Chatterjee, a small business owner. “We are already struggling to compete with larger companies, and the tariffs will only make it harder for us to stay in business.”
The Indian government has announced a series of measures to support small and medium-sized businesses, including a reduction in taxes and an increase in credit availability. However, many experts have warned that these measures are not enough to mitigate the impact of the tariffs.
In conclusion, the trade war between the US and China has had far-reaching consequences for the global economy, including the Indian stock market. The tariffs imposed by the White House have led to a crash in the Indian stock market, and have also been criticized for their impact on small and medium-sized businesses. While the Indian government has announced a series of measures to support small and medium-sized businesses, many experts have warned that these measures are not enough to mitigate the impact of the tariffs.
News Source:
https://x.com/Jairam_Ramesh/status/1909116322992009326
