American Marxist economist Richard Wolf said that America is trying to become the world’s strict country against India, but in reality this step is disastrous for itself. He said that according to the United Nations, India is now one of the largest countries in the world. America’s India to tell what it has to do, it is as if a rat punched the elephant.

US President Donald Trump has implemented 50% tariff on India. This fee is double the rates already existing. India buys oil from Russia. Because of this, the US has set up 25 per cent tariff separately, which the Washington Ukraine considers the strategy to stop war. However, India has criticized the move and called it a decision taken wrong and without thinking.

BRICS gets indirect advantage
Richard Wolf explained that India will change its strategy with this move of America. He said that if America closes its way for India, then India will find another place to sell its things. India can now shift the export of its equivalence to BRICS countries, such as Russia, China, Brazil, South Africa and recently joined new members (Egypt, Ethiopia, Indonesia, Iran, UAE). Meanwhile, BRICS aims to challenge Western financial dominance and find a dollar option.

G7 vs Bricks
Wolf said in podcast that the world production share of BRICS countries is 35 percent. On the other hand, G7’s stake has come down to 28 percent. According to him, Trump’s policy of tariff and pressure is helping BRICS to become stronger and integrated economic blocks.

Trying to dismiss BRICS
Trump has many times rejected BRICS as a small group. In February, he said that the BRICS is over. He also threatened that if the BRICS makes its currency, then the US would impose 100% tariff. Wolf said that India has an old and complex relationship with America since the Soviet period. He warned America believing that India is like another small country, but it is a completely different rival. This step can not only remove India from America, but can also create a new economic and political balance in Asia.

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