'Necessary Steps Will Be Taken To Protect Nation’s Interests': Govt On Trump's 25% Tariff Bomb

Speaking in the Lok Sabha, Commerce and Industry Minister Piyush Goyal stated that the government is closely examining the implications of the recently announced 25% tariffs imposed by the United States on Indian goods.

Photo Credit: IANS

New Delhi: Following US President Donald Trump's announcement of a 25% tariff on Indian exports and a vague "penalty" linked to India's energy deals with Russia, Union Minister of Commerce and Industry Piyush Goyal on Thursday said that "the government will take all necessary steps to protect the nation’s interests."

During his address in the Lok Sabha, Piyush Goyal said, "...On 2nd April 2025, the US President issued an executive order on reciprocal tariffs...10% baseline duty in effect since 5th April 2025. With a 10% baseline tariff, a total of 26% tariff was announced for India. A full country-specific additional tariff was scheduled to come into effect on 9th April 2025. But on 10th April 2025 this was extended initially for 90 days and then extended till 1st August 2025."

Goyal said that the government is examining the impact of the recent events, adding, "The Ministry of Commerce and Industry is holding talks with exporters, industries, and all stakeholders and gathering information on their assessment of this issue. Government gives utmost priority to the safeguarding of the welfare of farmers, labourers, entrepreneurs, industrialists, exporters, MSMEs, and stakeholders of the industrial sector. We will take all necessary steps to safeguard our national interest."

#WATCH | US Tariffs | Union Minister of Commerce and Industry Piyush Goyal says, "Government is examining the impact of the recent events...We will take all necessary steps to safeguard our national interest."

"Government is examining the impact of the recent events. Ministry of… pic.twitter.com/C6rHFIRRI5

— ANI (@ANI) July 31, 2025

"In March 2025, India and the US started talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA). The goal of this was to finish the first stage of the Agreement by October-November 2025..." he added.

"In less than a decade, India came out of the 'Fragile Five' economies, and it has now become the fastest-growing economy in the world. Based on the hard work of reforms, farmers, MSMEs, and industrialists, we have come in the top 5 economies of the world from the 11th largest economy. It is expected that we will be the third-largest economy in a few years. Today, global institutions and economists see India as a bright spot in the global economy..." he further added.

On Wednesday, US President Donald Trump announced that India, despite being referred to as a "friend," will be subjected to a 25% tariff on its exports, along with additional penalties due to its continued purchases of Russian oil and military equipment. The measures are set to take effect from August 1.

Posting on Truth Social, Trump stated, “Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world—and they impose some of the most strenuous and unreasonable non-monetary trade barriers of any country.”

He further criticized India's defense and energy ties with Moscow, saying, “India has always bought a vast majority of their military equipment from Russia and remains Russia’s largest energy buyer, along with China, at a time when the global community wants Russia to stop the killing in Ukraine.”

In a separate post, Trump emphasized that the August 1 deadline “stands strong and will not be extended.”

In response to the announcement, the Ministry of Commerce and Industry said the Indian government has taken note of the U.S. President’s statement on bilateral trade.