'Will Take Necessary Steps For Nation's Interest': Piyush Goyal's Response To 25% Tariff

One day after the US President Donald Trump announced 25% tariff on Indian exports and an unspecified 'penalty' due to India's energy purchases from Russia, Commerce Minister Piyush Goyal has said that the centre is studying the implications of the move and will take all steps needed to safeguard India's national interest.

What Did Piyush Goyal Say?

While speaking on the impact of the tariffs imposed by Trump, the Union Minister of Commerce and Industry Piyush Goyal said in the Lok Sabha during a Monsoon Parliamentary session, "The implications of the recent development are being examined by the government."

"The Ministry of Commerce and Industry is engaged with all stakeholders including exporters and industry for getting feedback on their assessment of this situation," he added.

He also said that the government attached the 'utmost importance' to protecting and promoting the welfare of India’s farmers, workers, entrepreneurs, exporters, micro, small and medium enterprises, and all sections of industry.

Additionally, the union minister added that India is going to take all necessary steps to secure and advance it's national interests and "the Government is confident that we will continue our fast paced journey of inclusive growth and sustainable development towards the goal of Viksit Bharat 2047. India is moving confidently towards self-reliance."

He further noted that an increasingly protectionist world, India has entered into mutually beneficial trade agreements with the UAE, UK, Australia and EFTA countries.

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