‘India will protect…’: Commerce Minister Piyush Goyal reveals Modi govt’s response to Trump tariffs

India’s Commerce Minister Piyush Goyal addressed the Lok Sabha on July 31, responding to US President Donald Trump’s announcement of a steep 25% tariff on Indian goods, set to take effect from August 1, 2025. The government is currently assessing the implications of these new tariffs, which come in addition to a 10% baseline duty imposed since April. Reassuring Parliament and the nation, Goyal emphasized that India will take all measures needed to protect its national interests, with a clear focus on safeguarding the welfare of farmers, MSMEs, and industry. He also highlighted that negotiations with the US are ongoing for a balanced bilateral trade agreement, and asserted India’s rise from a “fragile five” to one of the world’s five largest economies.