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Time of India
2 days ago
- Business
- Time of India
'Studying implications, will take steps necessary to secure national interest': India on Trump tariff
The Ministry of Commerce and Trade on Tuesday while reacting to US President Donald Trump 's tariff on India said that it is studying the implications of the announcement, adding that it will take all steps necessary to secure the national interest. "India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Others Artificial Intelligence Operations Management Product Management Degree Technology Management Cybersecurity Data Science Leadership Design Thinking Healthcare Digital Marketing Public Policy healthcare MBA MCA CXO Finance PGDM others Data Science Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs," said the ministry in a statement. "The Government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK," said the statement. Trump said in a post on Truth Social earlier Wednesday he would impose a 25% tariff on goods imported from India, starting Aug. 1. He added that the world's fifth-largest economy would also face an unspecified penalty, also starting on Friday, but gave no details. Economic Times WhatsApp channel )
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First Post
16-07-2025
- Business
- First Post
Indian delegation in US, Trump says 'we're going to have access' as trade talks progress
Trade talks between the US and India are gaining momentum as President Donald Trump signals progress on a potential trade deal, crediting his tariff policies for opening 'access' to Indian markets read more US President Donald Trump on Tuesday asserted that the country is making notable progress in gaining access to India's markets, attributing the breakthrough to his tough tariff policies and hinting at an outcome toward a coming trade deal. He said that his tariffs have helped the US dismantle barriers that previously hindered American businesses. 'We're going to have access into India,' Trump said, while announcing a trade agreement with Indonesia following a call with President Prabowo Subianto. 'You have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs.' STORY CONTINUES BELOW THIS AD #WATCH | US President Donald Trump says, "We made a deal with Indonesia. I spoke to their really great we made the deal. We have full access to Indonesia, everything. As you know, Indonesia is very strong on copper, but we have full access to everything. We will… — ANI (@ANI) July 15, 2025 Although the White House has not released concrete information about the scope or progress of the proposed US-India trade agreement, Trump's comments point to a fresh effort to reshape America's trade ties across Asia. Moreover, a high-level team from the Ministry of Commerce and Trade is also in the US to negotiate further, as India is firm on protecting its dairy and agriculture sector. Trump pointed out that his tough tariff stance is yielding results. 'Now we're getting access,' he repeated, positioning the development as a direct outcome of his trade policies. Donald Trump has frequently insisted that a trade deal with India is almost finalized, though a few outstanding issues remain. Interestingly, experts on US-India relations suggest it's actually beneficial that Trump hasn't yet sent an official letter to New Delhi. Meanwhile, India's trade delegation, headed by chief negotiator Rajesh Agrawal, is in Washington for scheduled talks, fueling renewed hopes for a potential agreement. Among all US trading partners facing Trump's proposed 'reciprocal tariffs,' India is the largest and stands out because, unlike the EU, South Korea, Japan, Canada, and Mexico, it has not received a formal letter from Trump threatening 25 to 35 percent tariffs starting August 1. STORY CONTINUES BELOW THIS AD
