Singapore
Congress leader Shashi Tharoor on Friday said US tariffs, especially those under President Donald Trump, are hurting India badly, causing job losses and economic setbacks. Speaking at the CREDAI-NATCON event in Singapore, Tharoor stated that 1.35 lakh jobs have been lost in Surat alone, affecting the gems, jewellery, seafood, and manufacturing sectors.
The US has imposed a 50% tariff on Indian goods—25% as a base tariff and 25% as a penalty for India buying Russian oil. Tharoor criticised the penalty as unfair, pointing out that China also imports more oil from Russia but faces no such sanctions.
Calling Trump a “mercurial” and “unusual” president, Tharoor said his style lacks diplomacy and consistency. “No leader has ever behaved this way,” he remarked, referencing Trump’s controversial statements.
Tharoor urged India to diversify export markets and engage more with countries like the UK, China, and Russia. He emphasized the need for a stronger Indo-European alliance to gain global influence.
Despite the setbacks, Tharoor said India must adapt and push for better trade deals. “We can’t sit back and say we have no options,” he concluded.