India very close to China in purchasing Russian oil, you are going to see so much secondary sanctions: Trump
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Indian Express
10 minutes ago
- Indian Express
‘I'm ready to pay the price': Modi draws red line, says no compromise on farmers amid rising US trade pressure
Even as agriculture—and India's continued purchase of Russian oil—emerges as a key sticking point in trade talks with the United States, Prime Minister Narendra Modi on Thursday asserted that India will not compromise on the interests of its farmers and fishermen, regardless of the personal cost. 'I know I will have to pay a huge price, but I am ready for it,' he said during his address at the M.S. Swaminathan Centenary International Conference. The Prime Minister's remarks come amid ongoing trade negotiations with the United States, which is demanding zero-duty access for all its agricultural and dairy products in the Indian market. On Wednesday, US President Donald Trump imposed an additional 25 per cent penalty on most imports from India over its continued purchase of Russian oil, pushing overall duties on some exports to 50 per cent. Among the affected goods are shrimps—a key fisheries export from India to the US. Addressing the M.S. Swaminathan Centenary International Conference in New Delhi, Modi said, 'Hamaare liye apane kisanon ka hit sarvochch praathamikata hai. Bharat apne kisanon ke, pashupalakon ke aur machhuaaron bhai behnon ke hiton ke saath kabhi bhi samajhauta nahin karega. Aur, main janata hoon, vyaktigat roop se mujhe bahut badee keemat chukaanee padegee lekin main isake lie taiyaar hoon. Nere desh ke kisanon ke liye, mere desh ke machhuaaron ke liye, mere desh ke pashupaalakon ke lie aaj Bharat taiyaar hai. (For us, the interests of our farmers are the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fisherfolk. And I know that I will personally have to pay a very heavy price for this, but I am ready. Today, India is prepared—for the farmers of my country, for the fisherfolk of my country, and for the livestock rearers of my country.) 'We are continuously working on the goals of raising farmers' income, reducing cost of cultivation, and creating new sources of income,' the PM added. 'Our government has recognised farmers' strength as the foundation of the nation's progress.' #WATCH | Delhi: Prime Minister Narendra Modi says, 'For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know personally, I will have to pay a heavy price for it, but I am ready for it.… — ANI (@ANI) August 7, 2025 India has made it clear that agriculture and dairy remain non-negotiable in its ongoing trade talks with the United States. As reported by The Indian Express on July 26, New Delhi is unlikely to concede to Washington's push for market access to genetically modified (GM) crops such as corn and soya. 'Some things are non-negotiable on principle. We can't import GM,' a source had said, indicating India's firm stance. Agriculture continues to be one of the most contentious areas between the two countries, with the US Trade Representative (USTR) repeatedly raising concerns over India's restrictions on GM imports, calling them discriminatory. On Wednesday, Washington escalated the pressure just weeks ahead of a scheduled visit by US trade negotiators to New Delhi on August 25. It doubled duties on several Indian goods—raising overall tariffs to 50 per cent—citing India's continued crude oil trade with Russia. A 25 per cent penalty will be added to the reciprocal tariffs announced on August 1, but with a 21-day buffer before implementation. In a statement, the White House said the additional '25 per cent ad valorem duty' was being imposed to address a national emergency triggered by Russia's actions in Ukraine. The executive order stated that this step was necessary due to India's 'direct or indirect' imports of Russian oil and that higher tariffs would more effectively address the situation. The sharp tariff hike puts India at a disadvantage compared to regional competitors such as Vietnam, Bangladesh, and even China, who now face lower or more favourable trade terms. New Delhi responded strongly to the move, calling the US action 'unfair, unjustified, and unreasonable.' The government said it would do whatever is required to safeguard its national interest. 'The United States has in recent days targeted India's oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,' the Ministry of External Affairs (MEA) official spokesperson, Randhir Jaiswal, said in a statement on Wednesday evening. 'It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,' said the statement, in a reference to Europe and China also buying energy from Russia but not facing any consequences. 'We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests,' the MEA statement said. Harikishan Sharma, Senior Assistant Editor at The Indian Express' National Bureau, specializes in reporting on governance, policy, and data. He covers the Prime Minister's Office and pivotal central ministries, such as the Ministry of Agriculture & Farmers' Welfare, Ministry of Cooperation, Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Rural Development, and Ministry of Jal Shakti. His work primarily revolves around reporting and policy analysis. In addition to this, he authors a weekly column titled "STATE-ISTICALLY SPEAKING," which is prominently featured on The Indian Express website. In this column, he immerses readers in narratives deeply rooted in socio-economic, political, and electoral data, providing insightful perspectives on these critical aspects of governance and society. ... Read More
San Francisco Chronicle
11 minutes ago
- San Francisco Chronicle
How India ended up facing steep US tariffs despite its strategic partnership
NEW DELHI (AP) — U.S. President Donald Trump has vowed additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%. India has called the additional tariffs 'unfortunate.' Trump's Wednesday announcement came as India and the U.S. are still negotiating a trade deal that has faced roadblocks after it was first announced when Indian Prime Minister Narendra Modi met Trump in Washington earlier this year. It also comes at a time when ties between India and the U.S. appear to have taken a hit even as Modi and Trump share a warm relationship. February Trump imposes tariffs on Canada, Mexico and China. He initially spares India, despite repeatedly calling the country a 'tariff king," but threatens that high tariffs are coming. February 14 Modi meets Trump in Washington in an effort to resolve trade concerns. Trump again warns of higher U.S. tariffs on Indian goods. India and the U.S. agree to work on a trade deal and expand bilateral trade to $500 billion by 2030. They don't share details as to how the target would be achieved. Modi says he expects a deal to be completed later this year. March 3 India's trade minister, Piyush Goyal, visits Washington and meets his counterparts to initiate negotiations for the bilateral trade agreement. April 21 India and the U.S. also finalize the terms of reference for the trade negotiation, bringing them a step closer to an agreement. May 10 Trump says he stopped military hostilities between India and Pakistan by offering possible trade concessions to both. India is angered by Trump's claims and disputes them. May 17 Trade minister Goyal leads a team of senior Indian officials to Washington for more negotiations. India's commerce secretary says the proposed bilateral trade agreement is progressing 'very well.' June 27 Trump signals a deal may be close. 'We're having some great deals. We have one coming up, maybe with India, a very big one, where we're going to open up India,' he says. July An Indian trade delegation visits Washington for another round of discussions, which end without reaching a breakthrough. July Goyal says India is ready to make trade deals in 'the national interest,' but not just to meet deadlines. July 31 Trump imposes 25% tariffs on Indian imports. He warns of further penalties for India because of its buying of Russian oil, and calls its economy 'dead.' August 6 Trump vows an additional 25% import taxes on India to punish the country for its purchases of Russian oil, bringing combined tariffs to 50%. The tariffs are set to go into effect after 21 days.
Winnipeg Free Press
11 minutes ago
- Winnipeg Free Press
How India ended up facing steep US tariffs despite its strategic partnership
NEW DELHI (AP) — U.S. President Donald Trump has vowed additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%. India has called the additional tariffs 'unfortunate.' Trump's Wednesday announcement came as India and the U.S. are still negotiating a trade deal that has faced roadblocks after it was first announced when Indian Prime Minister Narendra Modi met Trump in Washington earlier this year. It also comes at a time when ties between India and the U.S. appear to have taken a hit even as Modi and Trump share a warm relationship. Here is how India, a strategic partner of the U.S. in Asia, ended up facing steep tariffs: February Trump imposes tariffs on Canada, Mexico and China. He initially spares India, despite repeatedly calling the country a 'tariff king,' but threatens that high tariffs are coming. February 14 Modi meets Trump in Washington in an effort to resolve trade concerns. Trump again warns of higher U.S. tariffs on Indian goods. India and the U.S. agree to work on a trade deal and expand bilateral trade to $500 billion by 2030. They don't share details as to how the target would be achieved. Modi says he expects a deal to be completed later this year. March 3 India's trade minister, Piyush Goyal, visits Washington and meets his counterparts to initiate negotiations for the bilateral trade agreement. April 21 U.S. Vice President JD Vance meets Modi in New Delhi and says both sides are making progress on trade talks. India and the U.S. also finalize the terms of reference for the trade negotiation, bringing them a step closer to an agreement. May 10 Trump says he stopped military hostilities between India and Pakistan by offering possible trade concessions to both. India is angered by Trump's claims and disputes them. May 17 Trade minister Goyal leads a team of senior Indian officials to Washington for more negotiations. India's commerce secretary says the proposed bilateral trade agreement is progressing 'very well.' June 27 Trump signals a deal may be close. 'We're having some great deals. We have one coming up, maybe with India, a very big one, where we're going to open up India,' he says. July An Indian trade delegation visits Washington for another round of discussions, which end without reaching a breakthrough. July Monday Mornings The latest local business news and a lookahead to the coming week. Goyal says India is ready to make trade deals in 'the national interest,' but not just to meet deadlines. July 31 Trump imposes 25% tariffs on Indian imports. He warns of further penalties for India because of its buying of Russian oil, and calls its economy 'dead.' August 6 Trump vows an additional 25% import taxes on India to punish the country for its purchases of Russian oil, bringing combined tariffs to 50%. The tariffs are set to go into effect after 21 days.
