Trump Tariff Harks Back to Modi’s Demonetization
US President Donald Trump after SOTU Speech
Trump Unveils Exceptions in Tariffs for Canada & Mexico
By Manish Anand
New Delhi, March 6: Tik-Tok fan US President Donald Trump trumpeted that he issued record Executive Orders in the very first few days in the office in the second term. His Executive Order on tariffs has roiled the global trades.
Karoline Leavitt as the spokeswoman of the White House has busy days. She seeks to offer arguments for Trump’s actions with the speed that matches someone posting thoughts on social media platforms.
“Trump’s expectation is for the three largest auto makers to shift production before the reciprocal tariffs kick in April 2,” Leavitt said while explaining a temporary relief to automakers from Mexico and Canada for a month.
Trump hopes that automakers from Mexico and Canada will ship their shops to the US in a month. A public health professional by the name Jayenar replied to the post on Leavitt’s explanation, saying: “Trump’s swinging tariffs is a little like Modi’s demonetization. In India, every rich and privileged defender of the cancellation with four hours’ notice said that people should shift to digital payments and all will be well.:
He further said that “here an equally economically clueless President and his spokeswoman Karoline Leavitt suggests that the Canadian and Mexican car producers could shift productions to America within a month and then they’ll face no tariffs”.
Demonetization in India is widely believed to have sunk the Indian economy. Economists concur that jobless growth of India is a norm. Former Finance Minister and senior Congress leader P. Chidambaram has gone a step further, saying the Indian economy is now on a job loss path.
The Federal Reserve of Atlanta this week gave an assessment of the US economy. It said that three per cent slump in the US economy is on the cards. It red-flagged the rising prices. Also, the Atlanta Fed spotlighted sinking public consumption.
An anonymous entrepreneur by the user’s name Lincs on X said that “$80k truck is still going to end up costing $100k because it’s still more expensive to manufacture in America”. “And even if we make everything ourselves, we will still be poor because there will be no export market, because we will need to compete with all other countries making things cheaper than us,” said the entrepreneur.
Almost nine years have gone by since Modi came on television at 8 PM to announce demonetization rolling out in four hours’ time. Arun Jaitely, then Finance Minister, invented explanations as a willy lawyer that the demonetization will give godspeed to the Indian economy.
Cashless economy exited lexicon of Modi’s men within one year of demonetization. Eight years later, the Modi government knocked at corporate India, who profiteered from hurried damage control of demonetization, to give jobs to the youth with internship and other scheme in the 2024 Budget. Reports said that the corporate India with a yawn ignored grandiose 2024 Budget hopes.
WIRED in a report said that the “rich in the US is paying millions to dine with Trump at his Mar-a-Lago Resort”. The price to dine with Trump is $1 million to $5 million, said WIRED.
Experts said that Trump in the company of the rich is belting out fancy ideas to “Make America Great Again”. India has paid dearly for one such fancy idea. Now, it’s the turn of the US.
Join the WhatsApp Channel of The Raisina Hills
Follow on Google News https://news.google.com/publications/CAAqBwgKMNK2vwsw39HWAw?hl=en-IN&gl=IN&ceid=IN%3Aen
About The Author
