American Economist Mocks Trump Tariffs Move Against India- ‘Like Mouse vs Elephant’ Aug 2025

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Trump Tariffs

The phrase “like mouse hitting elephant” perfectly captures the current mood around US trade policy towards India, especially as the Trump administration’s latest punitive measures—trump tariffs—reshape economic relations between the two countries. Renowned American economist Richard Wolff, reflecting on these “tough guy” tactics by the US, highlights how these trump tariffs have affected not just trade but also wider geopolitical alignments, particularly as India seeks alternatives to Western markets.

The Rise of Trump Tariffs

This August, the US announced a steep 50% tariff hike on a wide range of Indian exports, citing India’s continued import of Russian oil as a core reason for the escalation. The implementation of these trump tariffs marks one of the most severe trade measures by the US in recent years, targeting goods such as textiles, gems, jewelry, furniture, and chemicals, and threatening to reduce India’s export earnings by tens of billions of dollars in just the coming year. Economists and commentators universally refer to these new duties as trump tariffs, underscoring the clarity of the administration’s approach.

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Economic Impact and India’s Response

For India, the trump tariffs have landed with substantial effect, putting vital export sectors at risk and jeopardizing hundreds of thousands of jobs. The Modi government has described them as “unfair, unjustified and unreasonable,” even as it seeks to cushion local exporters and lobby for exemptions for labor-intensive sectors. Industries such as textiles, gems, jewelry, carpets, and seafood—all major sources of Indian employment—are among the hardest hit, with analysts forecasting up to a 70% decline in US-bound exports by next year.

Importantly, India’s strategy is not simply reactive. The government is accelerating efforts to diversify export markets, negotiate free trade agreements with the UK, European Union, and Gulf states, and promote engagement with East Asian economies. Former policy officials advocate additional measures such as currency devaluation and expanded credit guarantees to help exporters weather the storm of trump tariffs.

The BRICS Alternative

Richard Wolff and other experts underscore how the trump tariffs are driving India—and other affected countries—towards greater economic collaboration within the BRICS bloc. The BRICS group, now making up over a third of global output, is gaining importance as America’s punitive trade stance pushes partners to seek alternative export destinations and strengthen their financial and industrial ties. As Wolff puts it, rather than capitulating to Western pressure, nations subjected to trump tariffs will redirect exports, amplify regional alliances, and fuel the growth of economic alternatives to the West.

Conclusion

The US’s trump tariffs on India are more than an economic jolt; they are a catalyst for global change and the expansion of a more multipolar world order. As India navigates the impact of trump tariffs—by recalibrating alliances, diversifying markets, and supporting exporters—it is increasingly playing a leading role in reshaping global supply chains and economic networks. For now, trump tariffs serve both as a symbol of policy confrontation and as a trigger for strategic transformation in the world’s fastest-growing major economy.

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