'We'll find way out': India's 'resilience' response over 50% US tariff deadline
PTC News Desk: Prime Minister Narendra Modi on Monday said India will remain firm despite being pressurised economically by Washington.
"No matter how much pressure comes, we will keep increasing our strength to withstand it. Today, the Atmanirbhar Bharat Abhiyan is getting a lot of energy from Gujarat and behind this are two decades of hard work...," PM Modi said while speaking at a public address in Ahmedabad today.
The remarks come ahead of US announcement of regarding the imposition of an additional 25 per cent tariffs on Indian imports. The punitive duties will come into force on August 27.
With just two days before the tariffs take effect, Modi assured the public that India would remain firm against such protectionist actions and prioritize the welfare of its citizens.
Addressing small shopkeepers, farmers, livestock owners, and small business owners, he pledged, “From the land of Gandhi, I repeat: for Modi, your interests come first. My government will never allow small entrepreneurs, farmers, or cattle rearers to suffer.” Previously, in his Independence Day address, Modi called for a shift toward 'swadeshi' (Made in India) products and expressed solidarity with farmers and fishermen, indirectly signaling to Trump. The tariffs will cover a wide range of Indian goods listed in the notice annex and will apply to items entering for use or removed from warehouses after the deadline.
In August, Trump imposed an extra 25 percent tariff on Indian goods, effectively doubling the duty to 50 percent, as a penalty for India’s ongoing imports of Russian oil.
The surprise decision resulted in the abrupt postponement of trade negotiations in Delhi and raised uncertainty over the long-awaited Bilateral Trade Agreement (BTA), which was expected around September–October.
While announcing the tariff hike, the US President posted on Truth Social, stating that although India is regarded as a friend, trade ties have been constrained by what he termed high tariffs and restrictive non-monetary barriers.
- PTC NEWS
