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On Friday (local time), US Donald Trump, while speaking at the White House, had said that India-US ties remain strong despite occasional differences.
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Improving trade links with the world’s second-biggest economy add to a string of positives for India, including the prospect of further central bank interest-rate cuts
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Trump’s directive could also speed implementation of bespoke trade deals between the US and other countries, making it easier for Washington to lift tariffs on aircraft parts, generic pharmaceuticals and certain products that can’t be grown, mined or naturally produced domestically — such as specialty spices and coffee, as well as obscure metals.
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Trump's latest order identifies more than 45 categories for zero import tariffs from "aligned partners" who clinch framework pacts to cut Trump's "reciprocal" tariffs and duties imposed under the Section 232 national security statute.
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"The Prime Minister has said no pact will take place at the cost of farmers. Their interest will be protected," Union Agriculture Minister Shivraj Singh Chouhan said
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Trump has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, with effect from August 27.
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Sitharaman added that the package will help those industries that are hit by the 50 percent tariffs imposed by the US from August 27
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Trump's remark comes days after Xi hosted PM Modi and Putin at the SCO Summit in Tianjin where the three leaders displayed a show of unity, in a clear message to the Unied States amid the tariff war raged by the US President.
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Union Finance Minister Nirmala Sitharaman reiterated that the contribution of crude oil to India's import bill is the highest and so India's decision to buy oil will always be based on what suits its needs best.
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Year-to-date, the rupee has lagged its Asian peers, weakening by about 2.85 percent in 2025.
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While Trump talks tough on pharma tariffs, over 50 percent of the drugs consumed in the US come from overseas, highlighting the country’s deep reliance on imports
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Read the full transcript of Union minister Piyush Goyal's interview with Network18
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Donald Trump has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, with effect from August 27
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The official noted that it’s a transition period, under which some businesses may have to incur loss on their margins, while some may gain. Over time, however, the businesses will start selling at new rates. On meeting the full year’s tax collection target, the official said that he can’t estimate any figure right now
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Trump has imposed a 25 per cent tariff on India, citing the trade deficit, and an additional 25 per cent because of India’s refusal to comply with US pressure to end its oil trade with Russia.
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Some experts believe that rising concern over US central bank's independence may be undermining trust in dollar-denominated assets, pushing investors toward gold.
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A weaker rupee rate for exporters would be risky for the central bank, though. It could damage broader sentiment toward the currency, which, in turn, could force the central bank to step up intervention in the foreign exchange market, causing a rapid erosion of India’s reserves.
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Tariffs and sanctions cause economic pain but rarely achieve political goals. They increase costs for consumers, strengthen adversaries' resolve, and often serve commercial, not strategic, interests
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Putin’s words also contrast with US President Donald Trump’s rhetoric about India. Trump has repeatedly disparaged the Indian economy as “dead”.
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Trump repeated his claim that New Delhi offered to eliminate tariffs altogether, a move he insisted would not have come without his tough stance.
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Commerce and Industry Minister Piyush Goyal also reaffirmed the government's commitment to safeguarding the interests of Indian exporters amid the evolving global trade scenario.
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Trump’s tariff crusade and public boasts are alienating the very partner Washington needs most to counterbalance Moscow and Beijing, undoing years of painstaking diplomacy and sending New Delhi visibly closer to the other side.
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Edward Price also praised PM Modi’s handling of global power rivalries, noting that he has signalled India’s options without fully aligning with Beijing or Moscow.
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Trump’s imposition of steep tariffs on Indian imports was intended to punish India for buying Russian oil. Yet the effect has been the opposite. Rather than isolating India, US measures have nudged it closer to Russia, both economically and strategically.
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China offers a broader consumer market for seafood, apparel and household goods, while Russia’s role is limited to niche categories
