Trump Tariff: Trump is ruining himself... American economist launches a scathing attack on tariff policy

International News: Famous American economist and professor at Johns Hopkins University, Steve Hanke, has strongly criticized the trade war launched by US President Donald Trump against many countries of the world. Talking to the media, he said that Trump is "ruining himself." According to Hanke, Trump's tariff policy is "absolutely useless," and its economic basis is "based on sand." He believes that this policy is completely against the principles of economics.

50% Tariff Strains US-India

Recently, America has imposed an import duty of up to 50 percent on some products coming from India. This decision has been taken in response to India's continuous purchase of oil from Russia. This move has further deepened the already existing trade tension between India and America.

Advice For Modi, Jaishankar

Professor Hanke said that Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar should not react in haste at this time. Citing the example of Napoleon, he said that when the enemy is destroying itself, one should not interfere. He expressed confidence that the structure of Trump's policies is like a "house of cards," which will soon collapse.

US Trade Deficit And Mismanagement

Professor Hanke also said that the trade deficit in America is very big because its expenditure is much more than its national income. He said that Trump's tariff policy is economically unbalanced and it can harm the country.

Unfair and unjust decision

The Indian government has strongly criticized this decision of America and called it "unfair, unjust, and irrational." The government believes that this can cause huge losses to the textile, marine products, and leather industries. Prime Minister Narendra Modi clearly said that India will not bow down to economic pressure and will protect its national interests.

Russia and China also criticized Trump

Not only India, but also Russia and China have strongly objected to Trump's tariff policy. Kremlin spokesman Dmitry Peskov said that it is illegal to put pressure on any country to end trade with Russia. China's ambassador to India, Xu Feihong, said that Trump's attitude is against international rules, and it shows how far America can go with "pressure politics."

Trump claims tariffs are giving big benefits

While Trump's policy is being criticized all over the world, he himself called it beneficial for America. In a post on Truth Social, Trump said that due to the tariff, the American stock market is seeing record highs and the country is earning billions of dollars. He warned that if the American court ruled against the tariff, then America may have to face a "Great Depression like 1929."

Will US Policy Backfire

It is clear from this entire incident that Trump's tariff policy has distanced not only India but also many countries of the world from America. Experts believe that such a policy can worsen America's global trade balance, and it can ultimately affect the American economy as well. It will be interesting to see in the coming times how India faces this challenge and whether America has to change its policy.