login
who are we?
contact us
qosheapp
Toi Staff
Belen Fernandez
Gideon Levy
Tafi Mhaka
Tarik Cyril Amar
Somdeep Sen
Eric Reinhart
Ghada Ageel
Moncef Khane
Samer Jaber
Andrew Silow-Carroll
Marcel Fürstenau
Yara Hawari
Daoud Kuttab
Trump Kicks Trade War into High Gear as New Tariffs Take Effect
Truthout is a vital news source and a living history of political struggle. If you think our work is valuable, support us with a donation of any size.
Huge tariffs on more than 90 countries took effect shortly after midnight on Thursday. President Trump slapped one of the highest tariff rates of 50% on India — set to go into effect on August 27 — unless India stops buying Russian oil. Democracy Now! speaks with Jayati Ghosh, economics professor at the University of Massachusetts Amherst, on the hypocrisy of the tariffs. “There’s so many double standards in this particular recent announcement of Trump, because it’s not just that other countries, like China, are buying Russian oil,” says Ghosh. “The European Union is buying Russian oil. The U.S. is buying various Russian exports.”
This is a rush transcript. Copy may not be in its final form.
AMY GOODMAN: This is Democracy Now!, democracynow.org, The War and Peace Report. I’m Amy Goodman, with Nermeen Shaikh.
Get reliable, independent news and commentary delivered to your inbox every day.
NERMEEN SHAIKH: U.S. tariffs on more than 90 countries took effect today, raising import taxes to the highest levels since the Great Depression. They range from 15% on imports from countries like Bolivia, Ecuador, Iceland and Nigeria, to up to 50% on India and Brazil. President Trump slapped India with one of the highest tariff rates, which are set to go into effect on August 27th, to pressure India to stop buying Russian oil. Separately, President Trump tied Brazil’s tariffs of 50% to punish Brazil for putting former far-right President Jair Bolsonaro on trial for his 2022 coup attempt. Trump has called Bolsonaro’s prosecution a “witch hunt.” Bolsonaro was placed under house arrest earlier this week.
AMY GOODMAN: For more, we go to New Delhi, India. We’re joined by Jayati Ghosh, economics professor at the University of Massachusetts Amherst, previously an economics professor at Jawaharlal Nehru University in New Delhi, where she taught for 35 years.
Welcome back to Democracy Now! So, you have President Trump imposing 25% tariff on India, to go up to 50% because........
© Truthout
visit website