According to media sources, Union Commerce and Industry Minister Piyush Goyal said that the government is examining the implications of the recently announced 25 per cent US tariffs on Indian goods. Making a statement in the Lok Sabha today on the reciprocal tariff announced by the US, Mr. Goyal said, the country will take all steps to protect national interests and consult with all stakeholders including farmers, entrepreneurs, MSMEs and industry bodies. He informed the House that 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. The Minister highlighted that India has now become the fastest growing economy in the world and within a few years, the country will become the third largest economy in the world. He said, India has finalized beneficial bilateral trade agreements with UAE, UK, Australia and other nations. A similar statement was also made by the Commerce and Industry Minister Piyush Goyal in the Rajya Sabha.
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