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'India to protect national interests': Govt on Trump’s 25% tariff in Lok Sabha
Piyush Goyal said in Lok Sabha that the government is examining implications of just announced 25 per cent US tariffs on Indian goods.
India will take all steps to protect national interests, commerce minister Piyush Goyal said in the Lok Sabha on Thursday on Donald Trump's 25 per cent tariff announcement.
Piyush Goyal said the government is examining implications of just announced 25 per cent US tariffs on Indian goods. Follow Parliament news live updates
Speaking in the Lok Sabha, Goyal said, "On 2nd April 2025, the US President issued an executive order on reciprocal tariffs...10% baseline duty in effect since 5th April 2025. With a 10% baseline tariff, a total of 26% tariff was announced for India. Full country-specific additional tariff was scheduled to come into effect on 9th April 2025. But on 10th April 2025 this was extended initially for 90 days and then extended till 1st August 2025."
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US President Donald Trump on Wednesday announced that “friend” India will face 25 per cent trade tariffs plus penalties for Russian oil and military purchases, starting August 1.
In a post on Truth Social, Donald Trump said, “Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country”.
He added that India has "always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE."
In a separate post, Trump said the August 1 deadline "stands strong, and will not be extended."
After Trump's tariff announcement on Wednesday, the commerce ministry said that the government “has taken note of a statement by the US President on bilateral trade”.
“The Government is studying its implications,” the statement read.
“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 statement released by the Press India Bureau (PIB) read.
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The statement read that 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 commerce ministry statement read.
