Donald Trump has created a stir in the whole world by announcing 25% tariff on India and penalty on trade with Russia. Meanwhile, a Canadian business tycoon has given a stern warning to Trump.
I’ve said it before, and I’ll say it again;
The biggest problem with Donald Trump’s tariff approach is that it has zero consideration to geopolitical strategy.
Trump is now picking a fight with India, one of the fastest growing economies in the world whose Prime Minister, Modi,… pic.twitter.com/A0I7JNom6w
— Kirk Lubimov (@KirkLubimov) August 2, 2025
Trump called India a dead economy
Trump not only called India a dead economy, but also sharply criticized India’s high tariff policies. He alleged that India imposes the world’s highest tariff on American goods. America’s trade with India is limited due to tariffs and sanctions. India’s trade with Russia weakens America’s sanctions policy. This stance came at a time when India has become the second largest buyer of crude oil from Russia. Earlier this share was less than 1%, which has now increased to more than 35%.
India’s response- We are a fast growing economy
The Indian government responded to this statement with immediate diplomacy and facts. Commerce and Industry Minister Piyush Goyal said in Parliament that India is now the world’s fastest growing major economy and is soon poised to become the world’s third largest economy. According to Goyal, India’s contribution to global GDP is around 16%. The country’s flexible economic policies and structural reforms have made India a global growth engine.
