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

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.

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."