Here Are More Strategic Ways Than Tariffs For Trump To Punish India For Buying Russian Oil: Hakimian

Forbes Breaking News

On "What's Moving Your Money with Spencer Hakimian," Spencer spoke about President Trump applying secondary tariffs to India over India's decision to purchase Russian oil.

Transcript

00:00nation now let's get into the india and u.s trade dispute very quickly here so india was threatened

00:08with even more tariffs over the weekend due to the fact that trump said that they are buying

00:16russian oil and they are supporting the russian war machine and this is in violation of american

00:23policy to not allow russia's war machine to grow and because of all of this trump is threatening

00:29something called secondary sanctions sanctions on top of previous secondary tariffs i should say on

00:35top of previous tariffs to raise all of these prices now again i personally quite agree with

00:42president trump on this one topic i agree we should not be allowing russia to fund its war machine by

00:51selling energy products to countries around the world particularly countries like india that are

00:56an ally of ours right it's it's not fair that you know the us nato the europeans the canadians were

01:03doing so much to to weaken russia and then some of our other allies are you know funding it via oil

01:10purchases but with that being said there are many many more strategic targeted accurate pinpoint ways

01:22to punish the indians for buying russian oil than to sanction their and to tariff their entire economy

01:30tariffs are a blunt tool if you tariff an entire if you tariff you know iphone manufacturing in india

01:38that's not going to stop the purchasing of russian oil you can do direct things about russian oil you can

01:45you know make it harder to ship it you can make it harder to settle in dollars or whatever you want to do but

01:51in my opinion there have to be more pinpoint tools than these blunt sharp wide tools like tariffs

02:00now particularly with india india is in my opinion the most critical country in the world at this point

02:08why do i say that because they're the one major country in the world that still has not picked their

02:15side decisively in cold war 2.0 between the united states and china the europeans are with the americans

02:23the iranians the north koreans the russians are with the chinese india is the one country you can

02:30maybe say saudi arabia and qatar although they lean a little bit more towards the united states because of

02:36security reasons india is one of the only major countries that has not decisively picked the side

02:43and the more we excessively punish to indians for things like tariffs for things of that nature the

02:51more we push them towards the chinese and that would be a massive loss india is the fastest growing

02:57economy in the world it's the fastest growing major population center in the world as an example apple

03:03is setting up shops in india to produce their iphones in the event that china invades taiwan

03:09and they will no longer be allowed to produce those iphones in china so i think as we work with india

03:17we should be strong in our beliefs we should be strong and firm in our belief that they should not

03:22be buying russian oil but we should be going at it in a very select and careful way as to not excessively

03:31punish someone that we realistically need as an ally i am a practicer of real politic which is

03:38something that henry kissender termed in the 70s and it essentially means that as you go about your

03:45foreign affairs you should keep in mind as you try to improve the world based on your moral

03:51understanding keep in mind practical realities i believe with india we need to be practicing

03:58a little bit more real politic here yes it is noble and is righteous that we do not want them buying

04:05russian oil and funding their war effort against the ukrainians but at the same time if we punish

04:13the entire indian economy and the american economy just to stop them from purchasing that oil are we

04:20taking it too far can we be a little bit more measured with our response i think

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