Shiv Sena (UBT) leader Anand Dubey on Wednesday questioned the bond between US President Donald Trump and Prime Minister Narendra Modi as the United States slapped an additional 25 per cent tariff on Indian imports.
"We reiterate that these actions are unfair, unjustified and unreasonable. India will take all actions necessary to protect its national interests," the MEA said.
After the order, the total tariff on Indian goods will be 50 per cent. While the initial duty becomes effective on August 7, the additional levy will come into effect after 21 days and will be imposed on all Indian goods imported into the US, except for goods already in transit or those m
Sensex closed the day at 80,543.99 points, down 166.26 points or 0.21 per cent, while Nifty closed at 24,574.20 points, down 75.35 points or 0.31 per cent.
The US reciprocal tariffs will affect approximately USD 8.1 billion worth of India's exports to the US, while the overall impact on India's economy remains manageable, said an analysis by the Industry body PHDCCI.
Trump's tariff on trade action has forced a downward revision in India's real GDP growth forecasts; now pegged at 6.5% year-on-year for calendar year (CY) 2025 and 6.4% for 2026, a reduction of 0.1 and 0.2 percentage points, respectively.
Congress MP Karti Chidambaram said on Wednesday that India should not take US President Donald Trump seriously when he makes impulsive statements on tariffs. Instead, the country should engage in sober and calm trade negotiations with the US, he added.
Samajwadi Party (SP) chief Akhilesh Yadav on Wednesday expressed concern over the flood situation in Uttar Pradesh and accused the Bharatiya Janata Party (BJP)-led state government of failing to provide assistance to the affected people.
Revolutionary Socialist Party MP NK Premachandran on Wednesday urged the Centre to react to US President Donald Trump's tariff threat against India over its Russian oil purchases.
Despite the uncertain global trade environment due to ongoing tariff announcements and trade negotiations, the Reserve Bank of India (RBI) has kept the GDP growth projection for the current financial year 2025-26 unchanged at 6.5 per cent.