Prime Minister Narendra Modi on Thursday firmly stated that India will not compromise on the interests of its farmers, even in the face of mounting economic pressure from the United States. His remarks came just a day after US President Donald Trump signed an Executive Order hiking tariffs on Indian goods to a total of 50 per cent, in retaliation for India’s continued imports of Russian oil.
Addressing the MS Swaminathan Centenary International Conference in New Delhi, PM Modi said,
“For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen, and dairy farmers. I know we will have to pay a heavy price for it, and I am ready for it. India is ready for it.”
The sharp escalation in trade tensions came after the US administration imposed an additional 25% tariff on Indian imports, citing “unusual and extraordinary threats” posed by India’s oil trade with Russia. The new tariff regime follows a previous 25% duty that came into effect on August 7. The additional levy will be implemented 21 days from the signing of the order.
According to the White House, the decision is rooted in national security and foreign policy concerns. The Executive Order stated:
“Articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 per cent.”
However, goods already in transit or those meeting specific exemption criteria will not face the added tariffs. The order clarified that shipments already en route before the effective date will be exempted from the new hike.
