India May Increase US Imports Amid Trump Tariff Move.
After US President Donald Trump announced a 25% tariff on Indian imports, the Indian government is reportedly considering boosting purchases of select US goods like natural gas, communication devices, and gold, Bloomberg reports.
However, India is not planning to buy additional defence equipment, including the F-35 stealth fighter jets, a key item pitched by Trump during PM Modi’s visit to the White House.
Despite the risk of further penalties over its ties with Russia, India prefers co-developing defence systems and manufacturing them locally, rather than making large defence purchases from the US.
The Modi govt is also not seeking immediate retaliation, instead showing interest in continuing bilateral trade talks.
The Government has taken note of a statement by the US President on bilateral trade. The Government is studying its implications.
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.
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.
