The Union government will update the Shashi Tharoor-led Standing Committee on External Affairs today (August 11) on the latest developments in India's foreign policy, with a special focus on US-India trade negotiations and tariffs. Officials from the Ministry of External Affairs (MEA) and the Ministry of Commerce & Industry are expected to address the committee at 4 pm, according to the Lok Sabha Secretariat.
Tharoor suggests safeguarding India’s interests
Committee chairperson Shashi Tharoor has called the situation “concerning” and urged India to safeguard its interests. Responding to the 50% US tariffs, he suggested that India should consider matching duties on American goods.
"What is happening is concerning. A country with which we had close relations, and we were working as strategic partners. If that country has changed its behaviour, then India will have to think about many things...Perhaps in the coming two to three weeks, we can hold talks and find a way out. India will also have to look after its own interests," Shashi Tharoor said.
“It will definitely have an impact because we have a trade of $90 billion with them, and if everything becomes 50 per cent more expensive, buyers will also think why should they buy Indian things?... If they do this, we should also impose a 50 per cent tariff on American exports... It is not that any country can threaten us like this,” the Congress MP added.
Trump’s tariff attack and India’s fierce response
The tariffs were authorised by US President Donald Trump via an Executive Order citing national security and foreign policy concerns, specifically India’s imports of Russian oil. The MEA has termed the move “unfair, unjustified and unreasonable,” vowing to take all necessary steps to protect national interests.