On Friday, Prime Minister Narendra Modi will hold a high-level Cabinet meeting at 1 PM to review the effects of steep new US tariffs on Indian exports.
The meeting comes against worsening trade friction after Washington raised overall tariffs on Indian goods to 50 per cent.
Officials are expected to discuss how India should respond to the US move.
US President Donald Trump announced an extra 25 per cent tariff on Wednesday. He blamed India’s continued purchase of Russian crude oil.
This comes in addition to a 25 per cent tariff introduced on 20 July.
India’s Ministry of External Affairs denounced the latest measure as ‘unfair, unjustified, and unreasonable’. It stressed that the country’s energy security and strategic independence must be respected.
Soon after the announcement, PM Modi restated his government’s full backing for India’s farmers, livestock owners, and fishing communities.
Speaking at the MS Swaminathan Centenary International Conference in Delhi on Thursday, the Prime Minister stated, “The interest of farmers is our top priority. India will never compromise with the interests of its farmers, livestock holders, and fishermen. And I know that I will have to pay a huge price for this personally, but I am ready. India is ready, for the sake of the country’s farmers, fishermen and livestock holders.”
On Thursday, President Trump rejected the idea of holding further talks with India over the tariffs.
Asked whether more negotiations could follow before the 50 per cent rate takes effect on 27 August, he asserted, “No, not until we get it resolved.”
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