New Delhi: India is set to take important measures to protect its national interest when it comes to dealing with the newly imposed 25 percent tariffs imposed by US President Donald Trump, said Commerce and Industry Minister Piyush Goyal on Thursday, 31 July 2025.
While addressing the Lok Sabha, Goyal said, On April 2, 2025, the US President issued an executive order on reciprocal tariffs announcing a 10 percent baseline tariff in effect from April 5. With a 10 percent baseline tariff, a total of 26 percent of the tariff was proclaimed for India. The additional tariff of 26 percent was set to be scheduled to be implemented from April 9, 2025. But on April 10, President Trump announced a pause of tariffs for the next upcoming 90 days and extended it till August 1, 2025.
Addressing the Lok Sabha, the Commerce minister said the government is examining the ramifications of the announced tariffs made by President Trump. The tariffs are set to come into effect from August 1.
Goyal further said the government is currently examining the impact of the recent announcements. The Ministry of Commerce and Industry is in talks with the exporters, industries, and all stakeholders and gathering insights about the impact of the tariffs on their part. The government gives utmost priority to the safeguarding of the welfare of farmers, laborers, entrepreneurs, industrialists, exporters, MSMEs, and stakeholders of the industrial sector.
We will take all necessary steps to safeguard our national interest, he assured.
In March 2025, India and the US started negotiations for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA). The negotiation was aimed at finishing the first stage of the BTA by October-November 2025.