India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
In a suo motu statement in both the houses of Parliament, he said, the government is examining the implications of these tariffs and is in consultation with all stakeholders, including farmers, exporters, MSMEs and industry bodies, on the tariffs.
“The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, workers, entrepreneurs, exporters, MSMEs and all sections of industry. We will take all necessary steps to secure and advance our national interest,” he said.
He added that the implications of the recent development are being examined by the government.
The ministry is engaged with all stakeholders including exporters and industry for taking feedback of their assessment of the situation, Goyal said.
US President Donald Trump on Wednesday announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.