“Unfortunate Action”: FICCI is disappointed with 25% tariffs and our secondary sanctions
The Federation of Commerce and Industry and Commerce and Industry Conferences (FICCI) expressed disappointment over U.S. President Donald Trump’s decision to impose a 25% tariff on India’s exports, starting from August 1.
FICCI President Harsha Vardhan Agarwal said in response to the announcement: “FICCI was disappointed with the U.S. decision to impose 25% tariffs on Indian exports and implemented secondary sanctions. Although unfortunately, this behavior is durable, we hope to trade for a long time, we will trade for a long time, which will be a short-term approval, which is a short-term approval, and since the charge is a certain fee, the rate is a certain approval. Finalized.”
Please read also:India – US Trade Agreement: Trump starts tariffs on India at 25% from August 1, citing high trade barriers and Russian relations
FICCI says trade relations have depth and potential
Agarwal further emphasized the importance of bilateral relations. “India and us have established a long-term partnership, which is due to the strengthening of our deepening participation in a range of areas from technology to defense to energy and progressive manufacturing. Both of our countries can achieve together, and FICCI is confident that following the detailed review currently underway, we will see the benefit of both countries in the context of the final trade agreement, he added to both countries.
India has been actively negotiating a bilateral trade agreement (BTA) with the United States since the beginning of this year. According to an IANS report, the U.S. demands are considered incompatible with India’s national interests, prompting the government to take its position. The U.S. delegation is expected to visit India in the second half of August to resume talks, hoping to end negotiations by September to October 10, 2025.
Please read also:Piyush Goyal meets S Jaishankar after Trump’s 25% tariff relocation
Industry seeks long-term trade agreements, not seals
FICCI stressed that the United States remains an important market for Indian exporters in terms of goods and services. The industry body reiterated the government’s position that national interests will take precedence over the deadline. “The purpose is to ensure a beneficial agreement, rather than a hasty transaction, thus conferring short-term gains, but may lead to adverse outcomes in the long run,” the statement said.
India, in turn, provides an important market for U.S. companies, many of which benefit from the country’s demand ecosystem and a large talent pool.
Please read also:U.S. President Donald Trump calls India a “friend” but criticizes trade imbalances, warning of 25% tariffs
Trump’s tariff announcement on the truth society
Earlier in the day, Trump issued tariffs on his platform Truth Society, noting that starting from August 1, India’s imports impose a 25% tariff and India’s fine for continuing to purchase military equipment and energy from Russia.
“Remember that despite India being our friend, we have done relatively few business with them over the years because their tariffs are too high,” Trump wrote in his post. He claims India imposes “the most intense and annoying barriers to non-monetary trade” compared to any other country.
Criticism of Russia in the Ukrainian War
Trump also criticized India’s continued defense and energy ties with Russia. “Those things are not good when everyone wants Russia to stop killing in Ukraine,” he said. “Everything is not good! So India will first pay a 25% tax on the above tax rate starting in August, plus the above fine. Thank you for your attention on this matter. Maga!” he added.
Last week, Finance Minister Nirmala Sitharaman said trade talks with the United States were “going smoothly.” Her comments came just after Trump’s tariffs were announced.
India finally concluded a Free Trade Agreement (FTA) with the United Kingdom. Commerce and Industry Minister Piyush Goyal called India-Uk a “game-changing” treaty that brings considerable benefits to farmers, MSMES, young professionals and fishermen.
