Government to Protect National Interests Amidst US Tariff Concerns: Goyal

The Union Minister of Commerce and Industry, Piyush Goyal, has stated that the government is closely examining the implications of the 25% US tariffs and will take all necessary actions to protect national interests. Speaking in the Lok Sabha, Goyal emphasized the government’s commitment to safeguarding the welfare of various stakeholders, including farmers, laborers, entrepreneurs, and exporters. He highlighted ongoing consultations with exporters and industry representatives to gather comprehensive information on the issue. The minister also discussed the Bilateral Trade Agreement (BTA) talks initiated in March 2025, aiming to complete the first stage by October-November 2025. Goyal further detailed the timeline of the US tariffs, including the executive order issued on April 2, 2025, the 10% baseline duty effective from April 5, 2025, and the subsequent extensions of the additional tariff implementation.