In an interview with Russia Today, Wolff said that if the US shuts its doors to Indian exports, New Delhi will find alternative markets, a shift that will ultimately strengthen the BRICS bloc.
American economist Richard Wolff has criticised the United States for acting like the โworldโs tough guyโ against India, warning that Washington is only undermining itself by pushing the BRICS bloc to emerge as an economic alternative to the West.
โIndia is now, according to the United Nations, the largest country on earth. The United States telling India what to do is like a mouse hitting his fist to an elephant,โ Wolff said.
His comments came after 50 percent US tariffs on Indian products took effect on Wednesday, doubling existing duties. President Donald Trump imposed the move as punishment for New Delhiโs continued purchase of Russian oil, part of Washingtonโs campaign to cut Moscowโs revenues and end the Ukraine war.
In an interview with Russia Today, Wolff argued that the tariffs will not isolate India but instead push it closer to BRICS partners. โJust like Russia found another place to sell its energy, India will sell its exports no longer to the United States, but to the rest of the BRICS,โ he said.
The consolidation of global south
The BRICS grouping, comprising Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates, seeks to counterbalance Western financial dominance and is exploring ways to challenge the dollarโs supremacy in global trade.
Wolff highlighted the blocโs growing clout: โIf you take China, India, Russia and the BRICS, the total share of world output those countries produce is 35%. The G7 is down to about 28%.โ
Trump’s eye onย BRICS
He warned that US tariffs could accelerate BRICS integration. โIn hothouse fashion, you are developing the BRICS to be an ever larger, more integrated and successful economic alternative to the West. We are watching a historic moment,โ he said.
Trump, however, has repeatedly dismissed the group, describing BRICS as a โlittle groupโ that is “fading out fast”. In February, he declared that โBRICS is deadโ and even threatened to impose 100 percent tariffs on its members if they pursued a common currency, saying, โThey can go find another sucker Nation.โ
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