Trade Diplomacy vs. Policy Sovereignty: India's Stance Amid US Tariffs
Union Minister Jayant Chaudhary emphasizes the importance of maintaining policy sovereignty in trade diplomacy after the US imposes high tariffs on Indian goods. Speaking at a FICCI summit, he highlights the need for industry support amidst global economic flux and ongoing US-India tariff tensions.
- Country:
- India
Union Minister Jayant Chaudhary, emphasizing the primacy of national interest, declared that trade diplomacy must not jeopardize policy sovereignty, following the recent US decision to hike tariffs on Indian products to 50 percent.
At a skills summit hosted by FICCI, Chaudhary affirmed the government's recognition of the backing provided by Indian industry, crucial amid the current volatile global economy.
In response to US President Donald Trump's recent tariff escalation on Indian imports, intended to counterbalance India's Russian oil purchases, India continues to grapple with the implications of this intensified economic standoff.
(With inputs from agencies.)
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