The government said it remains committed to safeguarding India’s economic interests, especially those of farmers, entrepreneurs, and MSMEs.
The Centre on Wednesday said it has taken note of US President Donald Trump’s announcement that India would face a 25 per cent tariff on certain exports starting August 1, and is studying its “implications”.
“India and the US have been engaged in negotiations on concluding a fair, balanced, and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective,” the Ministry of Commerce and Industry said in a statement.
The government also added that it remains committed to safeguarding India’s economic interests, especially those of farmers, entrepreneurs, and MSMEs.
“The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs. The government will take all steps necessary to secure our national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the UK,” the statement added.
Earlier, Trump said India will face 25 per cent tariff along with an additional penalty starting August 1, citing trade practices and continued ties with Russia.
In a social media post on Truth Social, Trump claimed the US has done relatively little business with India over the years due to its “high tariffs” and “obnoxious non-monetary trade barriers.”
He also criticised India for being a major buyer of Russian military equipment and energy, especially at a time when the international community is urging Russia to halt its actions in Ukraine.
“All things not good,” Trump wrote, announcing the tariff.
In another post, US President Donald Trump said, “WE HAVE A MASSIVE TRADE DEFICIT WITH INDIA!!!”
Earlier in April, Trump had announced fresh tariffs of up to 27 per cent on Indian goods. However, that decision was later put on hold, and since then, both countries have been trying to finalise a trade deal.
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