New Delhi, July 30: The government on Wednesday said it has taken note of US President Donald Trump’s decision to impose a 25 per cent tariff on India’s exports starting Friday, and is studying its implications.
The Commerce Ministry said in a statement that 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 government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,” it said in the statement.
The Centre further stated that it 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”.
India’s reaction came after Trump threatened to impose a 25 per cent tariff on India’s exports.
“India will be paying a tariff of 25 per cent” starting on August 1,” Trump posted on Truth Social. He said that India would also face an additional tariff penalty for buying Russian energy.
Trump had set the penalty, known as secondary tariffs, across the board at 100 per cent for all who are buying Russian energy if Moscow did not reach a ceasefire with Ukraine.
Will take all steps necessary: India
