New Delhi, July 31 – Union Commerce and Industry Minister Piyush Goyal informed the Lok Sabha on Thursday that the Government of India is closely examining the implications of the recent tariff hike on Indian goods announced by U.S. President Donald Trump.
Addressing the House, Goyal stated:
“On April 2, 2025, the President of the United States issued an executive order introducing reciprocal tariffs. A 10% baseline duty was implemented from April 5, and a total tariff of 26% was announced specifically for Indian imports. The full country-specific additional tariff was initially set to come into effect on April 9, but it was subsequently extended—first for 90 days and then until August 1, 2025.”
The Minister added that New Delhi is assessing the broader trade and economic consequences of these measures, particularly the new 25% import tariff and the unspecified penalties related to India’s continued import of Russian crude oil and defence equipment, which President Trump confirmed on Wednesday.
In a separate official statement, the Government reiterated that it is closely monitoring the situation:
“The Government has taken note of the U.S. President’s statement on bilateral trade. The implications of the announcement are being carefully studied.”
India and the United States have been engaged in ongoing negotiations toward a fair, balanced, and mutually beneficial bilateral trade agreement.
“We remain committed to achieving this objective,” the Government added.
Highlighting its strategic priorities, the statement reaffirmed India's commitment to protecting domestic interests:
“The Government attaches the highest importance to safeguarding the welfare of our farmers, entrepreneurs, and MSMEs. All necessary steps will be taken to uphold India’s national interest—as demonstrated in recent trade agreements, including the Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom.”
The developments come amid growing global scrutiny over India’s strategic engagements with Russia and rising protectionist measures under the Trump administration.
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