India Assesses US Tariff Impact, Vows to Protect National Interests

Commerce Minister Piyush Goyal stated India is evaluating the effects of US-imposed 25% tariffs. The government will safeguard farmers, MSMEs, and exporters while pursuing strong trade deals to boost economic growth and global trade relations.

New Delhi: Union Commerce and Industry Minister Piyush Goyal has made an important statement in Parliament regarding 25% tariffs imposed by the US on India. He clarified that the Government of India is intensively assessing the effects of this tariff and will take every necessary step to protect national interests. This statement has come amid stress in Indo-US trade relations, where the US has decided to put more tariffs on the Indian exports.

Background of Indo-America Trade Talk

Goyal said that the discussion on the trade agreement between India and the US started in March 2025. The two countries had targeted to complete the first phase of the agreement by October-November 2025.

For this, several rounds of meetings were held in Delhi and Washington, in which there was a discussion on limiting the import duty to 10-15%. However, the US suddenly decided to impose a 25% tariff, which was first to be implemented from 9 April, but it was postponed for 90 days and then extended to 1 August.

Government's response and security of national interests

The Union Minister insisted that the Government of India is analyzing the economic effects caused by this tariff. He clarified that the government will give top priority to protecting the interests of farmers, small- and medium-sized enterprises, exporters, and workers. At the same time, he assured that India would take all necessary steps to comply with its national interests, whether it is an international trade agreement or other economic policies.

India's economic progress and global status

Goyal expressed pride in India's economic achievements, saying that India has become the fastest-growing economy in the world in the last decade. He said that India has now joined the top five economies from the category of 'Frazyl Five' (weak economies) and is on the way to becoming the third largest economy in the coming years.

Role of trade agreements

He also stated that India has made beneficial trade agreements in recent years with the UAE, Britain, Australia, and EFTA countries (Switzerland, Norway, Iceland, and Liechtenstein). India is committed to making similar agreements with other countries, which boost exports and strengthen India's position in the global market.