Senior Congress leader Manish Tewari expressed concerns about the impact of US President Donald Trump's tariffs on India and urged the Centre to show "spine" and not "bow down" to American pressure, recalling India's past experiences in dealing with similar situations.
Members of India's diamond industry have said that the US decision to impose 50 per cent tariffs on Indian goods poses a challenge, but expressed confidence in the sector's resilience and the strength of the domestic market.
"For the first time, a country has stood up to the United States, and that country is India. India has made it clear that we will not bow down before Trump," Bansal said.
The Friday judgment by the US Court of Appeals for the Federal Circuit upholds an earlier ruling by the US Court of International Trade, dated May 28, that initially struck down the tariffs.
Brazil's President Lula said his government will not immediately retaliate against US tariffs and seeks trade talks with President Trump. While the US imposes 50% taxes on Brazilian exports, Brazil is exploring legal measures but prioritizes negotiation, emphasizing it will not compromise it
The judges noted that Trump's unprecedented tariffs are an overstep of his power because the ability to impose taxes, including tariffs, is "a core Congressional power" that the Constitution grants to the legislative branch.
Former senior diplomat Mahesh Sachdev said US tariffs on Indian goods are a "serious setback but not exactly a disaster," warning textiles, gems, jewellery, and seafood exports will be hit hardest, while leather and footwear face limited impact.
Former MoS MJ Akbar criticized the US 50% tariff on India, questioning why Germany and China face no similar measures. He said the tariffs will minimally affect India's trade, weaken the US, and noted India-China ties have strengthened, shifting global focus from Washington to the SCO summit
The 50 per cent tariffs on Indian goods imposed by the Donald Trump administration came into force on Wednesday, following a notice by the US Customs and Border Protection (CBP). The move poses serious challenges for India's US-oriented exporters.
Front-loading by major Asian economies ahead of the US reciprocal tariffs has significantly altered global export patterns, according to a Nomura report.