Indian Prime Minister Narendra Modi said on Thursday (Aug 7) he will not compromise the interests of the country’s farmers even if he has to pay a heavy price for it, in his first comments after US President Donald Trump’s salvo of a 50 per cent tariff on Indian goods.
Trump announced an additional 25 per cent tariff on the South Asian nation on Thursday, taking the total levy on Indian goods being exported to the US to 50 per cent – among the highest levied on any US trading partner.
“For us, our farmers’ welfare is supreme,” Modi said in a function in New Delhi.
“India will never compromise on the well-being of its farmers, dairy (sector) and fishermen. And I know personally I will have to pay a heavy price for it,” he said.
Trade talks between India and the United States collapsed after five rounds of negotiations over disagreement on opening India’s vast farm and dairy sectors and stopping Russian oil purchases.
Modi did not directly refer to the US tariffs or trade talks.
The new tariff, effective from Aug 28, was to penalise India for its purchase of Russian oil, Trump has said.
India’s foreign ministry has said the decision was “extremely unfortunate”, and that “India will take all necessary steps to protect its national interests”.
