Trump May End Up Exposing US Consumers As 'Paper Tigers,' Says Economist Peter Schiff On 50% India Tariffs

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Economist Peter Schiff warned Tuesday that President Donald Trump's decision to double tariffs on Indian imports to 50% could "expose the U.S. consumer as a paper tiger," predicting a dollar crash that would "impoverish Americans but enrich foreign consumers, particularly the BRICs."

What Happened: "In­ports from India now face 50% tariffs. Trump may end up exposing the U.S. consumer as a paper tiger. A dollar crash will impoverish Americans but enrich foreign consumers, particularly the BRICs. The death of the U.S. consumer means the birth of the emerging-market consumer," Schiff wrote on X.