(Image source from: Tv9hindi.com)
US President Donald Trump is "doing harm to himself" by starting a trade conflict with other nations, according to American Economist and John Hopkins University Professor Steve Hanke. The professor criticized Mr. Trump's decision on tariffs, calling it "completely foolish" and simply "built on shaky ground.""The economic reasoning is entirely flawed," he added. His comments were made as tensions increased between the US and India following Trump's move to raise tariffs to 50 percent on Indian products. "The key thing is to heed Napoleon's advice - he said to never interfere with an enemy who's self-destructing. I believe Trump is harming his own position," Professor Hanke stated. "In regards to India, I think Prime Minister Narendra Modi and External Affairs Minister S Jaishankar should keep their strategies to themselves and hold off for a bit. The reason I mention this is that I believe Trump’s fragile situation will eventually fall apart. The economic repercussions from tariffs are based on unstable ground," he continued.
Professor Hanke pointed out that there is a significant trade imbalance in the US because Americans are spending more than what the country's overall production can support. "So the economic logic is completely flawed. Trump’s approach to tariffs is absolutely nonsense," he said. On Wednesday, Mr. Trump intensified his tariff push against India by adding a further 25 percent duty and then doubling it to 50 percent over India's ongoing imports of Russian oil. India criticized the move as "unfair, unjustified, and unreasonable," which is expected to significantly affect industries such as textiles, marine, and leather exports. Prime Minister Narendra Modi stated on Thursday that New Delhi would not yield under economic pressure. By targeting New Delhi over the imports of Russian oil, India will face the highest US tariff of 50 percent, alongside Brazil. Both Russia and China, among other nations, have criticized Mr. Trump for applying illegal trade pressure on India. "We hear numerous remarks that are in reality threats, trying to compel countries to reduce trade ties with Russia. We do not view such remarks as legitimate," Kremlin spokesman Dmitry Peskov said to reporters before the US imposed a 50 percent penalty on India.
Trump's tariff blitz faces united resistance from BRICS nations. Is the U.S. isolating itself economically? @osamashaab speaks to @steve_hanke pic.twitter.com/GNzfkgyPqo
— NDTV (@ndtv) August 8, 2025
Chinese Ambassador to India, Xu Feihong, took a shot at Mr. Trump, stating: "If you give a bully an inch, they’ll take a mile. Using tariffs as a tool to control other countries breaks the UN Charter, undermines WTO regulations, and is both unpopular and not sustainable." Earlier on Friday, Mr. Trump announced there would be no trade talks with India until the tariff dispute is settled. Later in the day, he warned of a potential "Great Depression similar to 1929" if the US Court of Appeals for the Federal Circuit rules against the tariffs. "Tariffs are having a tremendous positive effect on the Stock Market. Nearly every day, we’re achieving new highs. Moreover, hundreds of billions of dollars are flowing into our national coffers," Trump posted on Truth Social.
