India's Stance Against US Tariffs: Defending National Interests
Amid rising US tariffs on Indian exports, India is evaluating responses to safeguard national interests. Commerce Minister Piyush Goyal emphasizes protecting agriculture and industry sectors. The US seeks concessions on various sectors, while India aims for easing tariffs and retaining trade rights under WTO rules.
- Country:
- India
In the wake of US President Donald Trump's announcement imposing a 25% tariff on goods from India starting August 1, Indian Commerce Minister Piyush Goyal declared the government's commitment to safeguarding national interest. This move reflects a strategic posture amid ongoing bilateral trade negotiations.
India is analyzing the impact of these tariffs and engaging with various stakeholders, including exporters and industry leaders. Goyal emphasized the importance of defending agriculture and industry, with India firm on its stance, especially regarding duty concessions.
The tariffs come at a crucial time as the two nations continue negotiations for a bilateral trade agreement, while simultaneously addressing broader trading issues such as duties on industrial and agricultural goods. Stakeholders are bracing for the sixth round of talks, scheduled for August.
(With inputs from agencies.)
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