'Seen it all, but not this': Samir Arora reacts to reported Trump tariffs on India

The post garnered widespread attention for its candid tone and its summative list of significant financial disruptions—suggesting that even the most seasoned market watchers can be thrown off by unpredictable political moves.

Veteran fund manager Samir Arora expressed visible confusion over reports of former US President Donald Trump planning to impose tariffs on Indian goods if re-elected. In a social media post that has since gone viral, the Helios Capital founder reflected on the unpredictability of global markets, even as someone who has witnessed decades of financial upheaval.

Arora wrote, “In my 30+ years as a fund manager, I have seen Harshad Mehta, dotcom bubble, Ketan Parikh, Global Financial Crisis, Euro crisis, ILFS, COVID, Adani attack, Silicon Valley Bank collapse, Hindenburg, 5-year bear market in India 1995-2000, and more…”

He continued, noting that he has “never been surprised” in a way that would shake his understanding of the markets—until now. Reacting to Trump’s reported intent to impose tariffs on India, Arora exclaimed in disbelief: "Ye kya cheez hai bhai?”—a colloquial Hindi phrase that translates to “What is this, man?” in English.

In my 30 yrs as fund mgr I have seen the following:
Plague 1994
Mexico crisis 1995
Asian crisis
Russian crisis
US sanctions on India 1998
Kargil
Tech collapse 2000
9/11
Attack on parliament
Fall of BJP govt leading to 17 pct fall in mkt in a day
Global financial crisis
26/11…

— Samir Arora (@Iamsamirarora) July 31, 2025

The remark, humorous on the surface, underlined a deeper concern within financial circles about the potential volatility and implications of such a move on US-India trade relations. It also struck a chord with many who follow geopolitics and economics, as Arora's sentiment echoed the collective bewilderment over the rationale and timing behind targeting India—a key US ally in the Indo-Pacific.

"Trump happens once in generations! So can we say THIS TIME IT IS DIFFERENT," a user wrote. Another user commented, "Tariff will change as tareef. Hope soon we see that TACO (Trump Always Chickens out) phenomenon once he finds there ain’t no oil reserves."

While the Trump campaign has previously hinted at revisiting trade deals and reinstating tariffs as part of its broader “America First” agenda, India had not prominently featured on that list until now.

The post garnered widespread attention for its candid tone and its summative list of significant financial disruptions—suggesting that even the most seasoned market watchers can be thrown off by unpredictable political moves.