New Delhi: India on Wednesday said it has taken note of US President Donald Trump’s announcement of a 25 per cent tariff on imports from India and possible penalty tariffs over oil trade with Russia starting August 1, asserting that national interest will remain paramount in all trade negotiations.
In a statement, the government said the impact of Trump’s remarks is being studied and all necessary steps will be taken to protect the country’s interests.
“The government has taken note of a statement by the US President on bilateral trade. The government is studying its effects,” it said.
The Centre added that India and the US have been engaged in negotiations for a “fair, balanced and mutually beneficial” bilateral trade agreement over the past few months.
“We are committed to this cause. The Government attaches great importance to protecting and promoting the welfare of our farmers, entrepreneurs and MSMEs,” it said.
Officials also cited India’s recent trade deals, including the comprehensive economic and trade agreement with the UK, as an example of safeguarding national interest during negotiations.
Trump’s surprise announcement came just a day after India’s Commerce Ministry said that US negotiators would visit India on August 25 to finalise the pending trade deal.
