Will take all steps to secure national interest: India on Trump’s tariff threat

After US President Donald Trump announced a 25 per cent tariff, with penalty, on Indian imports starting August 1, India said it has taken note of the statement and will take all steps necessary to secure the national interest.

Posting on Truth Social, Trump said these tariffs are among other things a penalty on India for buying oil from Russia.

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Reacting to the announcement on Wednesday, the Ministry of Commerce and Industry in a statement said, “The government has taken note of a statement by the US President on bilateral trade. The government 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 statement said.

“The government attaches utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” it said.

“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,” it added.

Earlier, the US president, in a post, 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. Also, they have 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 — ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA! (sic).”