During the monsoon session of Parliament, Union Minister of State for Commerce and Industry Jitin Prasad has responded to a question related to the impact of the US impact in the Lok Sabha on Tuesday (August 19, 2025). The Union Minister of State said in the Lok Sabha that 50 percent of the tariff imposed by the US would apply to the export of goods worth about $ 48.2 billion (based on trade value of 2024) in India.
In a written reply to the question asked by the Central Government in the Lok Sabha, Union Minister of State for Industries Jitin Prasad said, “The government is committed to protect and protect the national interests of the country and protect the welfare of all sections of farmers, laborers, businessmen, exporters, MSME and industry.” He said, “All necessary steps are being taken to reduce the impact on business due to tariffs, including measures for appropriate export promotion and trade diversification.
Trump imposed 50 percent tariff on India for importing oil from Russia
US President Donald Trump imposed an additional 25 percent tariff on the goods exported by India on 6 August. The White House argued behind Trump’s move that New Delhi is constantly importing oil and natural gas from Russia. Implementing oil from Russia from India is proving to be helpful in making revenue for Moscow in Ukraine War.
Trump signed an executive order to resolve the dangers of the Russian Federation’s government. Under this, President Trump said to implement 25 percent of the already implemented 25 percent and additional 25 percent tariffs on India. After this order of Trump, 50 percent tariff will be implemented on all other items except some small items of India from 27 August.
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