• Source:JND
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PM Modi On Trump Tariff War: Prime Minister Narendra Modi made a strong statement amid tariff attacks on India by US President Donald Trump, saying 'he is prepared to pay price and India will never compromise'. The prime minister, while addressing the MS Swaminathan Centenary International Conference, said, "For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know, we will have to pay a heavy price for it and I am ready for it. India is ready for it."

PM Modi's First Veiled Response To Tariff Attack

PM Modi's response to the tariff attack on India comes hours after the first tranche of 25 per cent tariffs, announced by US President Donald Trump on Indian imports came into effect on Thursday.

ALSO READ: Trump's Tariff Tsunami Hits Global Markets: US' First Tranche Of 25% Tariffs On India Comes Into Effect

Last week, the White House announced that India will face tariffs of 25 per cent after Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world.

In the Executive Order titled ‘Further Modifying The Reciprocal Tariff Rates', Trump had announced tariff rates for nearly 70 nations.
The 25 per cent “Reciprocal Tariff, Adjusted” imposed on India came into effect beginning Thursday. 

ALSO READ: Why Did US Impose Tariffs Only On India, Despite Other Nations Buying Russian Oil? Trump Responds | WATCH

In addition to the 25 per cent tariff announced last week, Trump on Wednesday imposed another 25 per cent levies on India for its purchases of Russian oil, bringing the total duties slapped on India to 50 per cent, among the highest imposed by the US on any country in the world. The additional 25 per cent duty will come into effect after 21 days or August 27.

(With PTI inputs)