Indian Prime Minister Narendra Modi announced on Thursday (7th of August) in response to the 50% tariff imposed by the United States on Indian export goods that even if his country is forced to pay a heavy price, it will not retreat from its national and economic interests.
The remarks were made during a public speech in the state of Gujarat in response to trade pressure from US President Donald Trump.
According to Reuters, five-stage trade talks between India and the United States have reached an impasse due to differences over opening India’s agricultural and dairy markets to American products, as well as India’s refusal to stop buying cheap oil from Russia.
Modi stressed that protecting the interests of farmers, fishermen and dairy farmers, who make up more than 45 percent of India’s workforce, is his government’s red line.
He said: “If I have to pay a price to defend national interests, I am ready.”
This is while the US has not yet imposed similar tariffs on China, the largest buyer of Russian oil.
