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.
It seems like the split is across G7 and BRICS. Countries are flocking over to one bloc or the other, and BRICS is where most commodities and manufacturing is right now. The BRICS economies have already surpassed the G7 in PPP terms.
does that include things like wealth?
the ultimate trump card seems to be military capability should the g7 ever decide that they can no longer tolerate a threat to their wealth like they’ve done in the past with forced regime changes and invasions.
BRICS are in a superior position relative to G7 in terms of material wealth, which is ultimately what people need to live.
In terms of going to war, we’re already seeing how that’s working out in Ukraine and Iran. The empire doesn’t have the capacity to take on countries with large industries. Meanwhile, China has already put a squeeze on rare earth exports that are needed for any modern weapons production.