India's Response to Trump's Tariff Announcement: What It Means for Trade Relations

Government's Reaction to US Tariffs

New Delhi: On Wednesday, the Indian government announced that it is evaluating the potential effects of US President Donald Trump's recent declaration regarding a 25% tariff on Indian imports, effective from August 1.

Trump's announcement includes a 25% tariff on all goods imported from India, along with an additional penalty related to military purchases and crude oil imports from Russia.

An official statement from the government indicated, "We have acknowledged the US President's remarks concerning bilateral trade and are currently assessing their implications."

For several months, India and the US have been in discussions aimed at finalizing a fair and mutually advantageous trade agreement.

The statement emphasized, "We are dedicated to achieving this goal."

Furthermore, the government highlighted its commitment to safeguarding the interests of farmers, entrepreneurs, and micro, small, and medium enterprises (MSMEs), assuring that it will take all necessary measures to protect national interests, similar to its approach with other trade agreements, including the recent Comprehensive Economic and Trade Agreement with the UK.