Mouse hits the elephant: The US’s behavior towards India’s “world tough guy” is just…
American economist Richard Wolff warned that the US behaviour is like a “world tough guy” against India, but will only shoot the feet by pushing the BRICS countries as an economic alternative to the West.
According to foreign media reports, he said: “According to foreign media reports, he said: “According to foreign media reports, he said India is the largest country on the planet.”
When U.S. President Donald Trump attempted to “punish” New Delhi to buy Russian oil, the 50% U.S. tariffs took effect on many Indian products, doubled existing responsibilities. The move is part of Washington’s campaign to cut Moscow’s revenue streams in Ukraine’s war.
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BRICS and G7: Historical Changes in Global Economic Power
Wolf stressed that the G7, including the United States, is no longer the main economic force in the world. “If you take China, India, Russia and the BRICS countries, these countries generate a total world share of 35%. G7 has dropped to about 28%,” Wolf said in the podcast.
He added that Trump’s tariffs inadvertently strengthened the gold coins, saying: “What you are doing is your hothouse fashion, developing the BRICS countries into an increasingly larger, more integrated and successful alternative to the Western economy. We are watching historic moments.”
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India’s tariffs on us on Russian oil are not as good as
Wolf said that despite U.S. pressure suggests New Delhi refused to stop buying Russian oil, which indicates a shift in the balance of electricity. “But for those with some humor, it will be a wonder of America, like the tough guys in the world, like what it actually does is shoot itself.”
New Delhi criticized Washington’s actions as “unfair, unreasonable and unreasonable.”
Wolff explained that U.S. actions, including tariffs, could bring India and other BRICS members closer together. “If you close the U.S. to India through high tariffs, India will have to look elsewhere to sell its exports. What you are doing is to develop the BRICS countries into an increasingly larger, more integrated and successful alternative to the Western economy,” he said.
The economist also highlighted the rise in U.S. debt, now at about $36 trillion, a growing weakness. He noted that countries like China are reducing holdings in U.S. Treasury bonds and doubts about how long Washington can rely on foreign loans.
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Why U.S. tariffs may not restore domestic manufacturing
Wolf said that tariffs could restore U.S. manufacturing during the Trump administration debate, “Any company that makes goods in Brazil or China or India will decide to spend money to transfer production back to the U.S. It doesn’t make sense at all.”
He added: “There are 4.5% of the people in this planet whose country cannot tell the other 95% of life, what to do, where to go. It is not sustainable and we have to face it.”
