Put a surcharge on remittances to India. Something like 20%. You will hear the screams from call centers everywhere.
We’re supposed to believe that Trump’s tariffs on India aren’t mainly on the tariffs and import rules that India has had on us for decades to severely limit American goods being sold in India. Nooo. It’s about India’s BFF relationship with Russia. LOL
Marcus, Don;t forget there’s a FReepathon going on now that’s behind. Of course, I guess it’s possible that you may be an OTHER-PEOPLE’S-MONEY type of proselytizer.
And why can't we ban all Indian immigration to the U.S. for 10 years, no exceptions, no family unification, no H1-Bs? Do it!
Good: ship all the H1B visas home; a $500 tariff on each executable statement from outsourced Indian code; no more visas of any type for Indians; a huge tax on remittances.
Trump made a strategic error with this one.
India was prepared to continue negotiations about the tariffs, until Trump telescoped he was prepared to add a general 50% tariff on India, over its imports of oil from Russia.
India registered that prospect as hypocritical as China buys as much oil from Russia as does India, and the EU states buy almost 3/4 of a million barrels from Russia annually, yet no special extra general 50% tariff was proposed for them.
India’s long high sense of nationalism arose on the matter.
This week high level discussions between India and China are patching up their relations.
Trump thinks he’s playing Nixon trying to split of Russia and China from strong alliance with each other. I don’t think it will work, but he has moved the needle of friendly relations closer between India and China - the two largest nations in all of Asia.
Instead of imposing an extra tariff on India, he (Art of the Deal) should have proposed a U.S. brokered deal of oil for India from the Gulf States and the Saudis, to replace the oil its getting from Russia. That deal India would have respected and not got is national pride aroused.
During the Cold War, India was more aligned with the USSR while Pakistan was aligned with the US. Nehru was one of the founders of the Non-Aligned Movement (which was ostensibly neutral between the US side and the Soviet side but in practice leaned towards the Soviet side, if I remember correctly). Cuba was a member.
India is supporting Russia in the war. China is supplying and supporting Russia in the war. Europe is still purchasing products from Russia, supporting the war.
Unless peace is realized quickly, it will absolutely result in splitting of the world economies into east and west. Eventually, parts of India and Russia will be China. The tree that grows WWIII has been planted by Vlad the Invader invasion. The question is how big it will grow on blood before somebody cuts it down.
India has a blocked currency.
I believe India pays for Russian oil in rupees. I believe those rupees can only be used to buy Indian goods and services.
India does make CNC machine tools, but the Russians probably have all the CNC machine tools they need by now.
Denying the Russians cashews, iron pipe fittings, and software development services from India isn’t going to break Russia.
“The warning is unambiguous: choose between Moscow and access to the global financial system dominated by Washington.”
A better way of putting it is choose an economic system run by despots that historically always fails, or one run by a bunch of people that do not trust each other that has historically shown nothing but success?
They're finally becoming a significant economy on the world stage (just barely passing Japan for 4th place, by less than $1bn, according to the IMF rankings).
It certainly took them long enough, with over a billion population, AND the influence of the British colonial system... and even so, their per capita GDP is still on just par with most of subSaharan Africa (around $4.8k), well below China ($13.6k) and the global average ($14.2k)