The US President Donald Trump on Friday signalled the end of subsidies to India and China calling them as “crazy”. Trump said that he wants to stop the subsidies that growing economies like India and China have been receiving as he wanted the US to grow faster than any other country.
“We have some of these countries that are considered growing economies. Some countries that have not matured enough yet, so we are paying them subsidies. The whole thing is crazy. Like India, like China, like others, we say, ‘oh, they’re growing actually’,” Trump said at an event in the Fargo city of North Dakota.
“We have to pay them money. This whole thing is crazy, but we’re going to stop it. We’re going to stop it. We have stopped it,” Trump announced.
On the trade war between the US and China, which escalated after Trump slapping tariffs on aluminium and steel, he said, “I’m a big fan of Chinese President Xi Jinping, but I told him, we have to be fair.”
Invoking the controversial idea of asking money for protection from rich allies, Trump said the US should get paid for securing the wealthy countries from the outside harm. “I think it’s fine, but they got to pay us for this. We’re watching the whole world and they take it for granted.”
“For years and years, we’ve been protecting these countries. They’re making a fortune. They’ve had very little military cost. We have the biggest military cost in the world. Most of it goes to protecting outside countries, some of whom don’t even like us,” President Trump added as per reports.