Ready to pay personal price to protect farmers’ interest: PM Modi on Trump tariffs
Prime Minister Narendra Modi on Thursday (August 7, 2025) said India will never compromise the interests of its farmers, fishermen and dairy farmers, asserting that he would be ready to pay any price.
“For us, farmers’ interest is the foremost priority. India will never compromise the interests of farmers, fishermen and dairy farmers. I believe, personally, I will have to pay the price, and I am ready for that,” Mr. Modi said.
His remarks come against the backdrop of the U.S. announcing a further increase in the tariff on Indian goods, including agricultural products, to 50%.
Trump Tariffs LIVE:
The United States has officially implemented a new wave of tariffs targeting a wide range of goods from some of its largest trading partners. The move is part of former President Donald Trump’s renewed trade strategy aimed at protecting domestic industries, reducing trade deficits, and increasing leverage in trade negotiations.
What Are the New Tariffs?
The new tariffs affect billions of dollars’ worth of imports, including steel, aluminum, consumer electronics, agricultural products, and automotive parts. According to trade officials, the tariff rates vary depending on the product category, with some duties reaching as high as 25%.
Countries Affected by U.S. Tariffs
The latest round of tariffs impacts several major economies, including:
China – Electronics, machinery, textiles
European Union – Automobiles, steel, luxury goods
Canada & Mexico – Agricultural goods, metals
Japan & South Korea – Vehicles and auto parts
Why Is the U.S. Imposing Tariffs?
The Trump administration argues that tariff are necessary to protect American jobs, boost domestic manufacturing, and correct what it sees as unfair trade practices. Supporters believe the policy will strengthen U.S. industries, while critics warn it may raise consumer prices and trigger retaliation from trading partners.
Global Reaction to Trump’s Tariffs
International responses have been swift, with several nations already signaling retaliatory measures. Trade experts warn that escalating tariffs could disrupt supply chains and spark trade disputes at the World Trade Organization (WTO).
Impact on U.S. Consumers & Businesses
Short-term: Higher prices on imported goods
Long-term: Possible reshoring of manufacturing but with increased production costs
Business sentiment: Mixed, with some industries benefiting and others facing challenges
Conclusion
As the new tariff take effect, global trade relations face renewed uncertainty. Businesses and consumers alike will be closely watching for retaliatory moves from affected countries and possible adjustments to U.S. trade policy in the months ahead.