Piyush Goyal Assures Protection of National Interests Amid US Tariffs

Union Commerce and Industry Minister Piyush Goyal Thursday assured that the government will take all necessary steps to protect India’s national interests in view of the 25 per cent tariffs imposed by the US on Indian goods. He emphasised that the government is committed to safeguarding the interests of Indian farmers, workers, and small entrepreneurs.

Goyal also stated that India will examine the implications of the US tariffs and take appropriate actions to protect its national interests.

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Making a statement in both the Houses of Parliament regarding the 25 per cent import tariffs announced by US President Donald Trump on Indian goods, Goyal assured, “We are committed to safeguarding the interests of our farmers, workers, and small entrepreneurs.”

Goyal emphasised that India never finalises trade deals based on deadlines, prioritising national interests instead. “India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,” he said.

He expressed optimism about the ongoing trade deal negotiations with the US, stating that both countries are looking for a mutually beneficial agreement.

The US has Wednesday announced a 25 per cent tariff on imports from India, effective August 1, prompting concerns about the impact on bilateral trade. India and the US have been engaged in negotiations to conclude a fair, balanced, and mutually beneficial trade agreement.

Asserting that the government is closely examining the implications of the newly announced US tariffs on Indian goods and will act accordingly to safeguard national interests, Goyal highlighted that India is engaged in trade discussions with various countries, including the US, to forge bilateral trade arrangements and create better opportunities for Indian exporters.

“The Ministry of Commerce and Industry is holding talks with exporters, industries, and all stakeholders and gathering information on their assessment of this issue. The government gives utmost priority to the safeguarding of the welfare of farmers, labourers, entrepreneurs, industrialists, exporters, MSMEs, and stakeholders of the industrial sector,” he said.

He further emphasised that India was a self-sufficient economic power and was among the top five economies, and will soon become the third-largest economy. He also highlighted that there was a steady rise in India’s exports in the last 11 years.