India issued a firm response to US President Donald Trump’s unexpected announcement of a 25% tariff on Indian exports, coupled with an unspecified “penalty” for India’s oil and military purchases from Russia. The Ministry of Commerce and Industry, in a statement Wednesday, said it is analyzing the implications and remains committed to securing a “fair, balanced, and mutually beneficial” bilateral trade agreement with the US, with negotiations ongoing for months.
“The Government will take all steps necessary to secure our national interest, as demonstrated in our recent Comprehensive Economic and Trade Agreement with the UK,” the ministry stated, emphasizing support for farmers, entrepreneurs, and MSMEs. The response countered Trump’s Truth Social post, where he labeled India a “friend” but criticized its high tariffs, trade barriers, and Russian oil purchases amid the Ukraine conflict.
Trump’s post also highlighted India’s “massive trade deficit” with the US and announced the tariff and penalty effective August 1. US Senator Lindsey Graham recently threatened severe economic consequences for countries buying Russian oil. India’s External Affairs Minister S Jaishankar and High Commissioner to the UK Vikram Doraiswami have defended India’s energy purchases, citing the need to prioritize affordable energy for the world’s third-largest consumer, importing over 80% of its energy needs.
Also Read: Congress Fights Back: 12 Democrats Sue Trump Admin to Expose ICE Detention Secrets!
Also Read: Trump’s India Tariff to Skyrocket US Drug Prices