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India will take all steps to protect national interests: Piyush Goyal on US tariffs

Commerce and Industry Minister Piyush Goyal on Wednesday said the government is fully prepared to counter the impact of new US tariffs, reaffirming India’s long-term trade ambitions and its commitment to protecting vulnerable sectors such as agriculture.

Addressing Parliament and speaking to the press in New Delhi, Goyal confirmed that an additional 10% duty has been imposed on Indian exports by the United States, effective August 1, 2025. “We were discussing the tariff that will be implemented from August 1. The government is currently testing goods that have arrived from the United States and is in talks with industrialists,” he said.

The tariff move, announced by US President Donald Trump, affects a wide range of Indian exports, including auto components, textiles, and electronics. While the US has cited “unfair trade barriers” as justification, Indian officials maintain that India’s own tariff regime is carefully calibrated to protect sensitive sectors like agriculture and dairy.

Goyal highlighted that India will take all necessary steps to secure its economic interests. “We will take every possible measure to keep the country secure,” he said, stressing that the government’s top priority remains the welfare of Indian farmers. “The government gives the highest priority to protecting the welfare of our country’s farmers.”

In the Lok Sabha, Goyal informed members that four rounds of negotiations have already taken place between the two countries to discuss a bilateral trade agreement. However, India is unlikely to compromise on core interests. “We will take all possible steps to advance our national interests,” he said.

Despite the renewed trade tensions, Goyal struck a confident tone on India’s economic trajectory. “India will become the world’s third-largest economy in just a few years,” he said, citing recent export growth and the government’s structural reforms. He added that the government is working towards making India a developed nation by 2047.

The minister’s remarks come amid rising concerns over the broader implications of the US move, including potential delays to the ongoing trade deal talks and uncertainty in sectors heavily reliant on US markets.

Goyal’s comments sought to reassure industry stakeholders while sending a clear message that India will not be pressured into trade-offs that could jeopardise long-term goals.

– Ends

Published By:

Koustav Das

Published On:

Jul 31, 2025

Source: www.indiatoday.in

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