India’s Modi Stands Resolute Against U.S. New Tariffs
(MENAFN) Indian Prime Minister Narendra Modi stood resolute Thursday against escalating US tariffs, declaring his willingness to bear a "heavy price" to protect the nation's interests. His firm stance followed US President Donald Trump’s executive order imposing an additional 25% tariff on Indian goods, specifically targeting India’s ongoing imports of Russian oil.
The new measures bring US tariffs on Indian products to 50%, with half of these duties taking effect immediately as of Thursday. Modi emphasized at a New Delhi event, "The welfare of our farmers is the highest priority," affirming, "India will never compromise on the interests of its farmers, livestock rearers, and fishermen."
He acknowledged the personal cost ahead: “I know I will have to pay a heavy personal price for this. But I am ready for it.”
New Delhi condemned the tariff hike as “extremely unfortunate,” labeling Trump’s actions “unfair, unjustified and unreasonable.” The US administration has accused India of benefiting from the resale of Russian oil, which underpins the punitive tariffs.
Despite early attempts at trade negotiations, India and the US have yet to finalize a deal, primarily due to India’s resistance to opening its agricultural and dairy sectors to American exporters.
Abhijit Mukhopadhyay, senior research consultant at New Delhi’s Chintan Research Foundation, told media: "Tariff agenda is at the core of Trump's policymaking. I don't think that there is anything additional when he is dealing with India. He wants to cut a favorable deal for the US with India. In a way, his general approach is quite transactional – give less and take more."
Last year, bilateral trade between the US and India surpassed $190 billion, although the US faces a trade deficit of approximately $45 billion with India.
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