New Delhi: The Government of India Wednesday said it is studying the implications of US President Donald Trump’s announcement to impose 25 per cent tariffs on Indian goods, along with a penalty from August 1.
Trump announced the imposition of a 25 per cent tariff on all goods coming from India, plus an unspecified penalty for buying military equipment and crude oil from Russia.
“The Government has taken note of a statement by the US President on bilateral trade. The Government is studying its implications,” an official statement said.
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 statement said.
“The government attaches the utmost importance to protecting and promoting the welfare of farmers, entrepreneurs, and MSMEs. The Government 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,” it added.
PTI
