<p>The Modi government reacting to Donald Trump's announcement of 25 per cent tariff on India said that it is "studying its implications".</p><p>Trump announced the imposition of a 25 per cent tariff on all goods coming from India, plus an unspecified penalty for buying military equipment and crude oil from Russia.</p><p>"Govt attaches utmost importance to protect interest of farmers, MSMEs; will take all necessary steps to secure national interests," it said in a statement on Wednesday.</p><p>"The government has taken note of a statement by the US President on bilateral trade. The government is studying its implications," the statement read. </p>.'Obnoxious non-monetary trade barriers': Trump announces 25% tariff plus ‘penalty’ on India from August 1.<p>India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months.</p>.<p>"India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.</p><p>"The government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK," it said.</p>
<p>The Modi government reacting to Donald Trump's announcement of 25 per cent tariff on India said that it is "studying its implications".</p><p>Trump announced the imposition of a 25 per cent tariff on all goods coming from India, plus an unspecified penalty for buying military equipment and crude oil from Russia.</p><p>"Govt attaches utmost importance to protect interest of farmers, MSMEs; will take all necessary steps to secure national interests," it said in a statement on Wednesday.</p><p>"The government has taken note of a statement by the US President on bilateral trade. The government is studying its implications," the statement read. </p>.'Obnoxious non-monetary trade barriers': Trump announces 25% tariff plus ‘penalty’ on India from August 1.<p>India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months.</p>.<p>"India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective. The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs.</p><p>"The government will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK," it said.</p>
