Desk Report,
New Delhi will take all steps to protect national interests
In response to US President Donald Trump’s imposition of 25 percent tariff on Indian goods, New Delhi said that it is studying the impact of Trump’s move and will take all necessary steps to protect national interests.
New Delhi will take all steps to protect national interests
On Wednesday morning local time, he announced the imposition of new tariffs on India on his owned social media platform Truth Social. It is scheduled to take effect from August 1 (Friday). Trump also announced ‘punitive’ measures against the country for buying military equipment and fuel from Russia. Later on Wednesday evening local time, India’s Ministry of Commerce and Industry said in a statement, ‘The comments made by the US President on bilateral trade have come to the notice of the government. The government is studying the impact of this move. For several months, India and the United States have been negotiating a fair, balanced and mutually beneficial bilateral trade agreement. We remain committed to that goal.’
The statement stressed that the Indian central government attaches the utmost importance to the welfare and development of its ‘farmers, entrepreneurs and the micro, small and medium enterprises (MSME) sector.’ The statement also mentioned the recent free trade agreement with the UK.
The Ministry of Commerce and Industry said in the statement that all necessary steps will be taken to protect the national interest, as has been done in other trade agreements, including the recent Comprehensive Economic and Trade Agreement with the UK.
Earlier, in a post on Truth Social, Trump wrote, ‘Although India is our friend, we have done relatively little business with them in recent years. Because, their tariffs are very high, which are the highest in the world. They use the most severe and heinous non-tariff barriers of any country in the world.’
Trump also said, ‘They (India) always buy a large portion of their military equipment from Russia. “When everyone wants Russia to stop killing in Ukraine, they are the biggest buyer of Russian energy, along with China—not a good thing!”
When Trump announced the new tariffs last April, he announced a 26 percent tariff on Indian goods. However, this was less than the total tariffs imposed on China of 104 percent, Cambodia of 49 percent, and Vietnam of 46 percent.
