India's challenging stand in Trump's Tariff War: 'We will never bend or ever look weak'

India will not ‘bend’, but would rather concentrate on expanding to new markets, Trade Union Trading Minister Piyush Goyal and the Minister of Industry said in his first public response to the steep US rates on Indian goods, AFP reports. The 50 percent duties, which came into effect this week, were targeting a wide range of Indian imports and was introduced by Washington in response to New Delhi’s purchases of Russian oil, which is part of the US strategy to print Moscow over his war in Ukraine. Since returning to the White House this year, US President Donald Trump has used rates as a broad policy weapon, which significantly disrupted the global trade flow. “If anyone wants a good free target agreement, we will always be ready. But if anyone distinguishes … we will never bend and we will never be weak. The imposition of this high duty is seen as a pressure tactic by America on India to accept its claims in the proposed bilateral trade agreement (BTA). The US is looking for greater market access in politically sensitive agricultural and dairy sectors. India has condemned the newly imposed US rates as unfair and unjustified, claiming that the government will not jeopardize the interests of its farmers and livestock sector. Goyal emphasizes ongoing efforts to diversify exports and have expressed confidence that India’s export performance will surpass the record set in 2024–25, when exporting goods and services reached a highlight of $ 825 billion. Goyal also noted that India’s share in world trade remains relatively small, which is why there is ‘no need to fear’. He pointed out that the country has successfully followed the biggest challenges in the past, including the Covid-19 pandemic and core-related sanctions. In the global trading market, the share of India is low and therefore “no need to fear,” the minister said. The country added that the country successfully managed the Covid pandemic and nuclear sanctions. On the proposed free trade agreement, the minister said: “We are talking to the US for a BTA. We have a plan to complete the first phase of the BTA by the fall (October NOV) of this year.” India and the US negotiate the treaty since March. So far, five rounds of discussions have been completed. After 50 percent of duty, the US team postponed its visit to India for the next round of talks, which was planned for August 25. So far, no new dates for the sixth negotiations have been completed. (With input of agencies)