Donald Trump’s use of tariffs has once again become a subject of international discussion. Reactions vary, with some perceiving these tariffs as problematic and economists pointing out significant risks. Nevertheless, Trump’s stance on the issue seems unchanged, as demonstrated by the recent imposition of a 50% tariff on Indian imports.
US economist and Johns Hopkins University professor Steve Hanke observed that Trump is harming himself by initiating trade wars against other nations. Hanke described the 50% Indian tariff as “absolute nonsense” and unsustainable. He suggested that India should be patient, as Trump’s economic model is likely to fail. China and Russia have also joined the chorus of disapproval.
The Chinese ambassador to India, Xu Feihong, echoed the sentiment, saying that using tariffs to pressure other countries contravenes international norms and weakens the WTO. He described the approach as unpopular and likely to destabilize the situation.