India has taken note of a statement by the United States President Donald Trump on bilateral trade after he announced 25 per cent tariffs on India starting from 1st August. In a statement, the Ministry of Commerce and Industry today said that the government will take all steps necessary to secure national interest, as has been the case with other trade agreements, including the latest Comprehensive Economic and Trade Agreement with the United Kingdom. The Ministry said that India and the United States have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. It added that the Government attached the utmost importance to protecting and promoting the welfare of farmers, entrepreneurs, and Micro, Small and Medium Enterprises.
Meanwhile, country’s largest business organization FICCI expressed disappointment over the decision taken by the United States to levy 25 per cent tariff on exports from India and impose secondary sanctions. FICCI President Harsha Vardhan Agarwal said that this move is unfortunate and will have a clear bearing on country’s exports.
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