India’s Commerce Minister Piyush Goyal addressed the Lok Sabha on July 31, responding to US President Donald Trump’s announcement of a steep 25% tariff on Indian goods, set to take effect from August 1, 2025. The government is currently assessing the implications of these new tariffs, which come in addition to a 10% baseline duty imposed since April. Reassuring Parliament and the nation, Goyal emphasized that India will take all measures needed to protect its national interests, with a clear focus on safeguarding the welfare of farmers, MSMEs, and industry. He also highlighted that negotiations with the US are ongoing for a balanced bilateral trade agreement, and asserted India’s rise from a “fragile five” to one of the world’s five largest economies.