"I think he (Trump) is continuing on this irrational path. This is driven by a certain kind of personal antagonism, more than any reasonable negotiation, discussion or policy," Trigunayat told ANI.
Indian exports to the US are projected to decline by nearly 30 per cent, from USD 86.5 billion in 2024-25 to about USD 60.6 billion in 2025-26, as the new 25 per cent reciprocal tariffs come into effect, according to Global Trade Research Initiative (GTRI).
The US administration's 25 per cent blanket tariffs on Indian goods is "unfortunate" but are poised to be short-lived, as both the partner countries are working on a Bilateral Trade Agreement (BTA), Vimal Pruthi, Partner, International Trade, EY India, said on Friday.
Bharatiya Janata Party MP Damodar Agarwal on Friday backed Union Commerce Minister's statement in Parliament after US President Donald Trump announced 25 per cent tariffs on India.
Samajwadi Party chief Akhilesh Yadav on Thursday questioned whether news of Malegaon blast case accused being acquitted came on Thursday to suppress the news of US announcement of 25 percent tariffs on India.
Earlier in the day, Congress MP Shashi Tharoor noted the impact of the 25 per cent tariff announced by US President Donald Trump on the Indian economy and termed the matter very "serious", which will "destroy" India's trade with America.
While some trade and industry leaders warned of short-term disruptions, others expressed confidence that India's strong manufacturing base, especially in sectors such as pharmaceuticals and medical equipment, would help it withstand the impact and forge new trade partnerships.
A trade deal between India and the United States could be finalised soon, with both countries finding common ground that suits their interests, US Secretary of Commerce Howard Lutnick said, expressing "strong optimism" about the direction of ongoing talks while speaking at the US-India St
US tariff uncertainties will impact manufacturing, logistics and retail verticals the most, given their reliance on global supply chains, according to a report by Jefferies.
US Trade Representative Jamieson Greer testified before the Senate Finance Committee on Tuesday and defended the Trump administration's move of imposing tariffs on multiple countries while shrugging off concerns regarding the policy.
Trading partners of the US, particularly those emerging market economies where the tariff rates faced by US exporters exceed those charged on US imports, are at risk due to the Trump administration's impending reciprocity plans, Fitch Ratings said in a report.