Trump’s Tariffs Devastate India: 1.35 Lakh Jobs Lost, Says Shashi Tharoor

Senior Congress leader Shashi Tharoor has sharply criticized U.S. President Donald Trump’s imposition of a 50% tariff on Indian exports, including a 25% penalty for purchasing Russian oil, warning that it has already led to significant job losses and economic strain in India. Speaking at a conference organized by CREDAI, India’s apex real estate industry body, in Singapore, Tharoor described the tariffs as having a “very, very negative impact,” particularly in Surat’s gems and jewellery sector, where 1.35 lakh jobs have been lost, with further losses looming in seafood and manufacturing industries.

Tharoor labeled Trump as a “mercurial” and “unusual” leader, unprecedented among his predecessors for his disregard of diplomatic norms. “Have you ever heard any world leader openly saying that he deserves a Nobel Peace Prize? Or saying, ‘all the countries in the world want to come and kiss my ass’?” Tharoor remarked, quoting Trump’s alleged claim that India and Russia have “dead economies” he is indifferent to. He urged that India’s economic performance not be judged by Trump’s erratic behavior.

The Congress MP highlighted the tariffs’ severe impact, noting that the initial 25% duty, combined with an additional 25% sanction for Russian oil imports, has made Indian exports uncompetitive in the U.S. market, where competitors face lower tariffs. “This is not just a tariff; it is a sanction, and it is totally unfair because China is importing more oil and gas from Russia,” Tharoor argued, calling for a uniform U.S. policy on oil-importing nations.

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To mitigate the damage, Tharoor advocated for diversifying India’s export markets and strengthening diplomatic ties with Europe, China, and Russia. He pointed to a recent trade agreement with the United Kingdom as a positive step and noted India’s efforts to improve relations with China following the Prime Minister’s recent visit, alongside an upcoming visit from the Russian President. “We can’t afford to sit there and say we have no other option,” he said, emphasizing the need for broader political and economic engagement.

Tharoor expressed optimism about ongoing trade negotiations with the U.S., suggesting potential reductions in the base 25% tariff. However, he cautioned that the additional sanctions pose an “enormous problem” unless lifted. The conference, attended by over 1,000 real estate developers and consultants, underscored the urgency of addressing these economic challenges as India navigates a shifting global trade landscape.

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