Trump Talks a Lot, Then Quickly Withdraws: Nadir Godrej on Tariffs
In a recent interview, Nadir Godrej, Managing Director of Godrej Industries, shared his thoughts on the tariffs announced by US President Donald Trump. Godrej’s comments were made during the NDTV Profit Conclave, where he discussed the impact of Trump’s tariffs on India and the global economy.
Godrej began by stating that Trump’s approach to tariffs appears to be inconsistent. “Sometimes it looks like Trump talks a lot, and then quickly withdraws,” he said. This comment was likely in reference to the recent delay in tariffs on Canada and Mexico, which Trump had previously threatened to impose.
However, as Godrej pointed out, the delay was only temporary, and the tariffs are still set to be implemented in the near future. “He delayed his tariffs on Canada and Mexico…of course, only for a month,” Godrej noted. “But probably he looks for some quick transaction (from the affected country) and lets them off the hook.”
Godrej’s comments highlight the unpredictability of Trump’s approach to trade policy, which has caused uncertainty and concern among businesses and governments around the world. The tariffs, which were originally imposed in response to perceived unfair trade practices, have been met with resistance from countries such as China, the European Union, and India.
India, in particular, has been a significant target of Trump’s tariffs. In June, the US imposed tariffs on over $5 billion worth of Indian goods, including steel, aluminum, and farm products. The move was seen as a retaliatory measure in response to India’s decision to impose tariffs on certain US products, including almonds and walnuts.
Godrej’s comments on Trump’s tariffs are reflective of the concerns shared by many Indian businesses and policymakers. India’s trade minister, Piyush Goyal, has previously expressed frustration with Trump’s approach to trade, stating that the tariffs are “unjustified” and “not in the spirit of fair trade.”
Despite the uncertainty surrounding Trump’s tariffs, Godrej remains optimistic about the potential for India to benefit from the situation. “India has a huge opportunity to become a major player in global trade,” he said during the NDTV Profit Conclave. “We have a young population, a growing economy, and a growing middle class. We have a huge potential to become a major player in global trade.”
Godrej’s comments highlight the importance of India’s growing middle class and young population in driving economic growth and global trade. As the country continues to urbanize and develop, India is likely to play an increasingly important role in global trade and commerce.
In conclusion, Nadir Godrej’s comments on Trump’s tariffs serve as a reminder of the unpredictability and potential risks associated with Trump’s approach to trade policy. While Trump’s tariffs may have caused uncertainty and concern among businesses and governments around the world, India’s growing economy and young population present significant opportunities for the country to benefit from the situation.
