"India Is Ready": PM Modi Says ‘Heavy Price Worth Paying’ To Shield Farmers As US Tariffs On Indian Goods Hit 50 Per Cent

Amid escalating trade tensions with the United States, Prime Minister Narendra Modi has said that the welfare of farmers, fishermen, and dairy producers is India’s foremost priority.

Addressing the M S Swaminathan Centenary International Conference on Thursday (7 August), PM Modi said, "For us, the interest of our farmers is our top priority. India will never compromise on the interests of farmers, fishermen and dairy farmers. I know I will have to personally pay a heavy price for it and I am ready for it. India is ready for it...".

PM Modi's remarks come after US President Donald Trump slapped an additional 25 per cent tariff on Indian imports—targeting New Delhi over its continued purchases of Russian oil—bringing the total US import duty on Indian goods to 50 per cent.

The new tariffs are set to take effect in about 21 days, leaving a potential—but narrow—window for negotiations.

The new duties place Indian goods under a 50 per cent tariff—significantly higher than the 30 per cent rate on Chinese imports and more than double Pakistan’s 19 per cent, despite India being a top US strategic partner.

In his executive order, Trump justified the move by accusing India of importing Russian oil, stating it “necessary” to impose ad valorem duties—without acknowledging that both the US and EU also continue Russian energy imports.

"I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India, which is directly or indirectly importing Russian Federation oil," Trump said in his executive order.

Trump’s move followed a televised outburst where he slammed India as "not a good trading partner" and threatened a tariff increase—ignoring India’s long-standing security and economic cooperation with the US.

"India has not been a good trading partner... we settled on 25 percent... but I think I'm going to raise that substantially over the next 24 hours because they're buying Russian oil," he told a US broadcaster.

His remarks risk upending relations with India, the world’s fifth-largest economy.

Meanwhile, Trump rewarded Pakistan—historically aligned with China and the Taliban—with a tariff cut and a new oil development deal.

Trump had already decreed on July 30 that India would face 25 per cent tariffs plus penalties for continued Russian energy and defense purchases—though no such penalties were announced for NATO countries doing the same.

That announcement came just before a deadline for reciprocal tariffs Trump had earlier postponed.

He escalated tensions further by describing India’s regulatory environment as “strenuous and obnoxious.”

India hit back by highlighting ongoing Russian trade by Western countries—including the US—underscoring the hypocrisy in Trump’s selective outrage.

The government said its buying Russian oil was "a necessity compelled by the global market situation", while countries criticising "indulge in trade... for products that are not "a vital compulsion".

India pointed to the European Union buying 67.5 billion euros of liquified natural gas, or LNG, from Russia in 2024 and United States' continued Uranium and Palladium imports from Moscow.

The trade talks between India and United States have hit a roadblock over Trump administration's insistence on giving US market access to Indian dairy and agriculture sector, which the Modi government is unwilling to do as a large population is dependent on the sectors.

Also Read: After India Rejects Pressure Over Russian Oil, Trump Imposes Additional 25 Per Cent Tariff—Total Now At 50 Per Cent