PM Modi To Hold Key Meet On US Tariff Row; Seven Ministers To Attend

Prime Minister Narendra Modi will chair an Economic Advisory Council (EAC) meeting on Monday evening to review the economy in the wake of fresh US trade measures.

Seven Union Ministers, including Finance Minister Nirmala Sitharaman, are expected to attend the meeting scheduled for 6.30 pm at the Prime Minister’s residence, 7 Lok Kalyan Marg.

The meeting comes days after US President Donald Trump imposed a 25 per cent tariff on Indian exports, with a further hike to 50 per cent set to take effect on 27 August.

The duties, aimed at punishing New Delhi over its continued oil imports from Russia, are likely to hit nearly USD 40 billion worth of Indian goods, including gems, textiles and footwear.

The development coincides with Chinese Foreign Minister Wang Yi’s visit to India and precedes External Affairs Minister S Jaishankar’s trip to Moscow, underscoring New Delhi’s balancing act amid strained trade ties with Washington.

The tariff dispute has already delayed the sixth round of talks on the proposed India-US bilateral trade agreement, originally scheduled for 25–29 August.

Both sides had committed to concluding the first phase of the pact by fall 2025 and doubling trade to USD 500 billion by 2030.

India has resisted US demands to open sensitive sectors such as agriculture and dairy, with Modi reiterating in his Independence Day speech that the government will not compromise farmers’ interests and urging a push for ‘swadeshi’ products.