Centre issues BIG statement after Donald Trump's 25% tariff on India: 'We will take...'

Union Commerce Minister Piyush Goyal on Thursday said the central government is studying the implications of the US' move to impose a 25 percent tariff on India's exports. Goyal added the Centre will take all necessary steps to protect India's national interest. Speaking in the Lok Sabha on Thursday, Goyal highlighted that India has transitioned from being labeled a "fragile" economy to coming on track to becoming the third-largest economy of the world -- an apparent response to Trump calling India a "dead economy."

What did Piyush Goyal say?
Trump on Wednesday announced a 25 percent tariff on all Indian goods entering the US, along with an unspecified penalty for the country buying energy from Russia. Speaking in the Parliament on Thursday, Goyal informed that India and the US started negotiations on a bilateral trade agreement this March with the aim of finalising the first phase by November 2025. The first physical meeting was held in New Delhi in March, followed by four more meetings in the Indian capital and Washington DC. Several virtual meetings have also been held, he said.

What is govt doing about tariffs?
Goyal said: "The implications of the recent developments are being examined by the government. The Ministry of Commerce and Industry is engaged with all stakeholders, including exporters and industry for taking feedback on their assessment of the situation." The minister added, "The government attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry. We will take all necessary steps to secure and advance our national interest."