Donald Trump imposed 50% tariffs on most US imports from India, making good on a threat to punish one of the world’s largest economies over its purchases of discounted Russian oil.
The tariffs, which came into effect just after midnight on Wednesday in Washington, risk inflicting significant damage on the Indian economy and further disrupting global supply chains.
US tariffs of 25% on Indian goods went into force earlier this month, but Trump announced plans to double the rate, citing New Delhi’s purchases of Russian oil, which the White House has argued is indirectly funding Russia’s war against Ukraine.
Objectively so should Biden then. His weaponization of the Swift system 100% accelerated the desire for most of the world to say, “Fuck the USA and its dollar.” Then, “No thanks. Let’s see what else is out there.”
Or did people already forgot that happened? And this is not me taking a side, that did happen. I think the USA is partly foundering and I do not blame you. The USA is increasing your debt by like a trillion every 100 days or so. I was talking to some friends in Finance a while ago about how the USA’s debt was flying past $33 trillion, and that was last year, I thing you guys passed $37 trillion recently and are still using the commodity of the dollar as a weapon. Most of the world sees this and thinks, they can do that to anyone they do not like, that could be us in the future.
You haven’t seen anything yet as to increasing the debt I am afraid. Every and any excuse they will milk the credit card.
If they do manage to make a supreme leader that sticks they will ad hoc default by over printing money and paying off the debts with that devalued currency.
Sure, but Biden did it through official channels and in the standard USA way of diplomatic blackmail with a fake carrot and the threat of a lot of stick.
This dumb motherfucker gives you stick and a promise not to give you even more stick, then tells everyone you’re such a huge cuck you’re probably gonna take more stick later anyway. One is obviously gonna drive all but the most whipped of whipped dogs (the EU) away.
Still, it does not make it a smart move from the Biden admin. Since for all we know, Biden may not have been even fully aware this was happening. I heard Biden on tape on the investigation Re: he keeping documents and at points he sounds like a senile grandpa – recommend people seek it out on YT, it is extremely enlightenmenting given the timeframe.
Legal or not is not the point, is whether it was a smart move. It was not. Do not weaponize the legal tender or the mechanisms of its trade. All he did was antagonize everyone by proxy. It was simply not a smart thing and very shortsighted.
It made BRICS or alternative choices look better than they should be. I am sure most people who care about geopolitics can see that.
Agreed
There is a carrot, It is corruption. There is so much going on behind the scenes right now with these guys. Any carrot would be self-serving by the administration obviously. The president has made 3.6 billion dollars he would not have since he got re-elected, that we know about according to some journalists that looked into it recently.
The amount they have made under the table in deals through surrogates is surely a lot more than that. For reference it is estimated that Putin is the richest person in the world in reality.
The truly great see money as a means to an end, these guys see money as the end.
Uh-huh
Oh for sure, the proxy war on Russia was the catalyst for creating an alternative financial system that’s making it possible for countries to trade outside the dollar right now.
Exactly. If the USA wanted for go after Russia, they could have used other tools, ones that not other countries have agreed to use as freely. It was such an incredibly shortsighted move. Or, something that could be perceived as a desperate move. Since is not as if the USA is or was short on other options.
Any country with common sense would look at that action and be weary. If I was a world leader, I would be. I would certainly look at what my other choices in trade are or could be, if just in case. A direct or proxy war is not even needed, perhaps just a geopolitical or bad trade dispute could fuck your economy if the Bald Eagle decides to cut you off. It is just too high a risk to ignore.
Dying empires always suffer from poor leadership.
Yeah… Can’t argue with that. Seems like a likely trend.
How was SWIFT weaponized? U.S. isn’t in SWIFT.