US investor Jim Rogers criticises Trump’s tariff decision on India

Renowned American investor Jim Rogers has criticized President Donald Trump’s decision to impose a 25% tariff on India and an additional 25% tariff from August 27. According to Rogers, Trump does not have enough understanding of the changes taking place in the global economy and especially in India and Asia.

Describing India as the world’s fastest growing economy, Rogers said the US should focus on strengthening trade ties with India rather than imposing restrictive tariffs. He made it clear that the bilateral trade target of $500 billion by 2030, as envisaged by Prime Minister Narendra Modi and Trump, can be achieved if the right strategy is adopted.

The global economist expressed confidence in India’s economic prospects, saying that India can perform even better than China in the future. He described free trade agreements (FTAs) as beneficial for both India and the world economy, with India having already signed 13 FTAs and negotiations on many more underway.

India has called the 50% tariff imposed by Trump on Russian oil imports and alleged high trade barriers “unfair”. India argues that Russian oil imports are essential to meet the energy needs of its 1.4 billion population.

Analysts believe that India may propose retaliatory tariffs through the World Trade Organization. In the current circumstances, India is taking strategic steps to protect its economic security and national interests.