India will take all steps to protect national interests, Commerce Minister Piyush Goyal said on Thursday on the 25 percent tariff announcement of Donald Trump in the Lok Sabha.
Piyush Goyal said that the government is investigating the implications of the announcement of only 25 percent US tariffs on Indian goods. Follow Parliament News Live Update
Speaking in the Lok Sabha, Goyal said, “On 2 April 2025, the US President issued an executive order on mutual tariff since 5 April 2025 … 10% of baseline duty effect. With 10% baseline tariff, the entire 26% tariff was announced. 90 days and then extended to 1 August 2025.”
US President Donald Trump announced on Wednesday that “friend” India would face 25 percent trade tariffs and punishment for Russian oil and military procurement starting on 1 August.
In a post on Truth Social, Donald Trump said, “Remember, while India is our friend, we have a relatively low business in the last few years, because his tariffs are the most in the world, and they have the most loud and unpleasant non-monetary business obstacles in any country”.
He said that India “always bought a vast majority of its military equipment from Russia, and is Russia’s largest buyer, with China, at a time when everyone wants Russia to stop murder in Ukraine.”
In a separate post, Trump stated that the August 1 time limit is “strong, and will not be extended.”
Following Trump’s announcement of Tram on Wednesday, the Ministry of Commerce said that the government has “focused on a statement by the US President on bilateral trade”.
“The government is studying its implications,” read in the statement.
A statement issued by the Press India Bureau (PIB) said, “India and the US are engaged in conversation on the closing of a fair, balanced and mutually beneficial bilateral trade agreement in the last few months. We are committed to that purpose.”
The statement said that the government’s defense and “attach great importance to promote and promote the welfare of our farmers, entrepreneurs and MSMEs”.
The statement of the Ministry of Commerce said, “The government will take all the steps necessary to secure our national interest, as has taken place with the UK with other business agreements including the latest comprehensive economic and trade agreement.”
