Title: Modi & Trump giving their economies self-inflicted wounds: Jairam
The global economy is in a state of chaos, and it’s all thanks to the self-inflicted wounds inflicted by two of the world’s most powerful leaders: Narendra Modi, the Prime Minister of India, and Donald Trump, the President of the United States. The recent crash in global markets is a direct result of the tariffs imposed by the White House, which has sent shockwaves across the globe.
Congress leader Jairam Ramesh was quick to criticize both Modi and Trump for their actions, stating that it’s no wonder they describe themselves as good friends, given their shared expertise in giving their economies self-inflicted wounds.
Sensex opened over 3,900 points lower, while Nifty opened over 1,000 points below, as the news of the tariffs spread like wildfire. The Indian rupee also took a hit, falling to a new low against the US dollar.
The tariffs imposed by the Trump administration are a direct result of the ongoing trade tensions between the US and China. The US has imposed tariffs on a range of Chinese goods, including electronics, textiles, and machinery, in an effort to force China to change its trade practices. China has retaliated by imposing its own tariffs on US goods, including soybeans, pork, and aircraft.
The impact of the tariffs has been felt across the globe, with many countries experiencing a decline in trade and economic activity. The Indian economy, in particular, has been severely affected, with many industries facing a decline in demand and a surge in costs.
The Congress leader, Jairam Ramesh, has been vocal in his criticism of Modi and Trump, stating that their actions are a clear indication of their lack of understanding of the global economy. “It’s no wonder that Mr. Modi and Mr. Trump describe themselves as good friends,” he said. “Both are experts in giving their economies self-inflicted wounds.”
Ramesh’s comments come as no surprise, given the recent trends in the global economy. The US and India have been experiencing a surge in trade tensions in recent months, with both countries imposing tariffs on each other’s goods.
The impact of the tariffs has been felt across various industries, with many companies facing a decline in demand and a surge in costs. The Indian automobile industry, for example, has been severely affected by the tariffs imposed by the US, with many companies facing a decline in exports.
The Congress leader’s comments come as a reminder of the importance of cooperation and diplomacy in international trade. The world is a global village, and what happens in one country can have a ripple effect on the entire world.
In conclusion, the recent crash in global markets is a direct result of the self-inflicted wounds inflicted by Modi and Trump. Their actions are a clear indication of their lack of understanding of the global economy and their willingness to put their own interests above those of their countries and the world at large.
It’s time for both leaders to take a step back and assess the impact of their actions. The world is watching, and it’s time for them to take responsibility for the chaos they have created.
News Source: https://x.com/Jairam_Ramesh/status/1909116322992009326
