India Stands Firm Amid US Tariff Threats, Agriculture at Stake

In a pivotal move on Thursday, India confirmed its commitment to safeguard its agriculture sector amid stalemated trade negotiations with the United States, following Washington's threat to levy a 25% tariff on Indian goods. The announcement elicited significant backlash from political opponents and triggered a depreciation in the rupee's value.

The looming tariff would singularly reprimand India with stricter trade conditions compared to other major economies, jeopardizing the economy of an essential U.S. ally in Asia amid growing Chinese influence. Despite ongoing discussions, the deadlock continues as the U.S. urges India to open its agricultural markets.

Trade minister Piyush Goyal reiterated the government's prioritization of farmer, entrepreneur, and business welfare. Meanwhile, U.S. Treasury Secretary Scott Bessent expressed mounting frustration, indicating that future trade outcomes hinge on India's actions. The geopolitical tensions are further inflamed by U.S. complexities involving India's ties with Russia and regional rivalries, such as the recent trade agreement with Pakistan.

(With inputs from agencies.)