Union Minister Piyush Goyal on Thursday said that India will take all necessary steps to safeguard national interest, a day after US President Donald Trump announced a 25 per cent tariff on Indian goods.
The Commerce and Industry Minister made a statement in the Lok Sabha and later a similar statement in the Rajya Sabha, “The Ministry of Commerce and Industry is holding talks with exporters, industries and all stakeholders and gathering information on their assessment of this issue. “He said.
Government’s Priority to Safeguard Welfare Of Farmers, Labourers, Entrepreneurs…
Speaking in the lower house, Goyal further said, “On April 2, 2025, the US President issued an executive order on reciprocal tariffs…10% baseline duty in effect since 5th April 2025. With a 10% baseline tariff, a total of 26% tariff was announced for India. A full country-specific additional tariff was scheduled to come into effect on April 9, but on April 10, this was extended initially for 90 days and then extended till August 1, 2025.”
“Government gives utmost priority to the safeguarding of the welfare of farmers, labourers, entrepreneurs, industrialists, exporters, MSMEs and stakeholders of the industrial sector. We will take all necessary steps to safeguard our national interest, “He added.
The Government is confident that we will continue our swift journey of inclusive and consistent development towards the goal of Viksit Bharat 2047, he said in the House.
US President Donald Trump on Wednesday announced a 25% tariff on India, which will go into effect from August 1.
Tariffs For Purchasing Oil And Defence Equipment From Russia: Trump
Trump took his social media platform ‘Truth’ to make the announcement. He said, “India will also have to pay an additional penalty for purchasing oil and defence equipment from Russia.”
“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,” Trump wrote on his social media platform.
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