Govt Reviewing US Tariffs' Impact On Indian Goods, Will Take All Steps To Protect National Interest: Goyal

US President Donald Trump announced a 25 per cent tariff on Indian goods on Wednesday

Union Minister of Commerce and Industry Piyush Goyal

Source : PTI

Government is examining implications of announced 25 per cent US tariffs on Indian goods, said Union Minister of Commerce and Industry Piyush Goyal on Thursday in Lok Sabha. He added, "On 2nd April 2025, the US President issued an executive order on reciprocal tariffs...10 per cent baseline duty in effect since 5th April 2025. With a 10 per cent baseline tariff, a total of 26 per cent tariff was announced for India."

 

"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. Government is examining the impact of the recent events...We will take all necessary steps to safeguard our national interest," he said.

The minister also said that the commerce ministry is holding talks with exporters regarding the recently imposed tariff by the US President. "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 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," he noted.

#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

US Tariffs On India

Trump on Wednesday indicated that discussions with India over trade are still underway, even as a he announced a 25 per cent tariff on Indian imports looms just days away. Addressing reporters from the White House, Trump suggested that negotiations were progressing and left the door open for a potential resolution. “They have one of the highest tariffs in the world now. They’re willing to cut it very substantially,” he said. “We’re talking to India now—we’ll see what happens. You’ll know by the end of this week.”