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Home » Transcript: Jeffrey Sachs on Trump’s Tariffs & Geopolitics: ‘U.S. Doesn’t Care About India…’

Transcript: Jeffrey Sachs on Trump’s Tariffs & Geopolitics: ‘U.S. Doesn’t Care About India…’

Read the full transcript of world‑renowned economist Jeffrey Sachs’ interview on Mint English Podcasts with Abhishek Singh, Deputy Editor at Mint on “Trump’s Tariffs & Geopolitics”, premiered on August 10, 2025.  

Introduction

ABHISHEK SINGH: Hello and welcome. You’re watching the Hindustan Times, and I’m Abhishek Singh. Now, if there is one pundit in the world who has truly seen it all, from the bursting of Japan’s real estate bubble to the breakup of the Soviet Union, from wars in the Middle East to shaping policy alongside multiple governments and heads of state, and who can actually make sense of the chaos the world has spiraled into? It’s Professor Jeffrey Sachs.

With ongoing conflicts, Trump’s tariffs rattling global trade, and a geopolitical landscape constantly in flux, there is no one better equipped than to cut through the noise and bring clarity to today’s most pressing issues. Professor Sachs, thank you so much for taking the time and talking to us.

JEFFREY SACHS: I’m absolutely delighted. Thank you so much.

Trump-Putin Meeting and the Ukraine War

ABHISHEK SINGH: Right, so let’s just get started. And, you know, as I was talking to you earlier and I mentioned that, you know, there are a bunch of things that we like to talk about. But to begin with, why don’t we start with, you know, Trump and Putin’s meeting, which is set to take place in a couple of days from now.

And they have met in the past. Last time they met was in 2018 in Helsinki when Trump endorsed Putin’s claims that there was no interference in Russian elections. And then before that in 2017. This time around the world, however, is looking a very different place. What do you think, apart from Russia and Ukraine, war is going to be on the agenda?

JEFFREY SACHS: I have to say the meeting came as a surprise to me because in public, the United States has not taken any measures that would actually lead to an end of the war in Ukraine. I put it on the US side because I believe that this is a war fundamentally provoked by the United States over a 30-year period.

Actually, it’s a war of NATO expansion that is an effort that began in the 1990s, contrary to the promise that the United States had given to the Soviet Union and then to Russia, that NATO would not move one inch eastward. But when the Soviet Union ended in 1991, the United States reneged on its promise and began NATO enlargement. Actually, that dates back to 1994, when President Bill Clinton made that terrible decision.

Since then, NATO has expanded eastward with the intention, explicit intention, of surrounding Russia and for many in the American political elite, of defeating Russia or dividing Russia or a term that’s sometimes used in Washington, “decolonizing Russia.” But it all added up to the same thing, which is that after the Cold War, the US policy has been to defeat Russia, not to live peacefully with Russia.

Now, the reason that the meeting surprised me when it was announced a couple of days ago is that it’s clear what is happening. Russia saying, if you want an end to this war, we have to get to the root causes of this war. That is essentially NATO enlargement, but many other things alongside that.

The United States made a coup in Ukraine in 2014 which brought in this pro-NATO regime. After overthrowing a president that wanted neutrality for Ukraine, which is the right policy for Ukraine. Then the United States dissed a treaty that could have prevented the full scale escalation. That was the Minsk II agreement endorsed by the UN Security Council that called for autonomy in eastern Ukraine for the ethnic Russian population of that region. The United States told the Ukrainians, “don’t do it.”

Then in early 2022, after the Russian invasion that began on February 24, 2022, there was a peace agreement almost completed between Russia and Ukraine based on Ukraine’s neutrality. And the United States swooped in and told Zelensky, “don’t sign that. We’ll fight on, we’ll defeat Russia.”

So I say all of this as a prelude to saying, what is this meeting about? If President Trump says, finally, the truth, which is that NATO will not enlarge eastward, that the United States will stop its relentless attempt for regime change in Russia or to surround Russia, and that there will be, therefore a neutral and secure Ukraine, then there can be peace.

But President Trump has not had the guts to say that. I don’t know what he believes in any event, personally, but he’s surrounded by the US military industrial complex, which absolutely doesn’t believe it. So I’m interested, of course, what will this meeting bring? But the idea that Trump has asserted on behalf of the military industrial complex that there should just be a ceasefire without getting to the root causes of this conflict is a non-starter from the Russian point of view.

Because from Russia’s point of view, that just means that the west will restart the war on its convenient date at any time, rather than getting to the fundamental reasons for this war in the first place. In this regard, I believe the Russians are right. If this war is to end, it should end by addressing the fundamental reasons for this conflict. The United States was the strong side of this over the last 30 years, and it basically said to Russia, “we can do what we want, where we want, when we want, and we will do so.” And that’s why this war continues. If Trump will say something different, there could be an end to the war.

Trump’s Ability to Change Course

ABHISHEK SINGH: Right. And how confident are you that Trump will be able to do what Obama and Biden did? Not because you talked about the role of the military industrial complex and of course, the US deep state. Would he be able to play by a different playbook, different from Obama’s, Biden’s and other presidents before them, and especially because he sold his voters on peace presidency and Russia, Ukraine war, of course, is the biggest war that the west has its eyes set on.

Do you think Trump, if not for anything else, not for the sake of the millions of Ukrainians who are dead, not for the sake of dead Russians, but perhaps for the sake of the peace prize that he’s eyeing, he’d perhaps be able to walk away from what has been the US foreign policy so far on this matter?

JEFFREY SACHS: He could, of course.