After the announcement of US President Donald Trump, the Modi government came under the target of the opposition. At the same time, the government had given a strong message to America on the tariff. Commerce Minister Piyush Goyal said in Parliament on Thursday that we will take every necessary step for the national interest.

US President Donald Trump had announced a 25 percent tariff on India. It was to be implemented from today i.e. August 1, but now the US President has postponed this decision for 7 days. Now it will be implemented from August 7. Ever since Trump announced the tariff, there was concern in India. The Modi government was on the target of the opposition. At the same time, the government gave a strong message to America on Thursday. Union Minister Piyush Goyal said in Parliament that we will take every necessary step in national interest.

President Trump announced a 25 percent tariff on Wednesday evening. On this announcement, Commerce Minister Piyush Goyal said in Parliament on behalf of the Indian government that whatever decision will be taken, it will be taken in the national interest. Along with this, Trump himself confirmed that talks are still going on with India on the issue of tariff. It is only after this statement of India that the tariff imposed by America has been postponed for 1 week.

Trump has already expressed his displeasure over the tariffs being imposed by India. He had said that India is the only country in the world that charges the highest tariffs. Talks are currently going on between India and the US regarding a trade deal. A final consensus has not yet been reached on these talks that have been going on for more than a month.

This decision of Trump has been postponed earlier also

Donald Trump has been taking a very tough stand on tariffs since the beginning of his second term. However, this time he has imposed new tariffs on 92 countries at once. For this, he has also signed an executive order. Earlier, Trump had announced to impose tariffs on countries around the world on April 2. However, at that time too, he postponed it for 90 days after just 7 days. A few days later, Trump gave time till July 31. Now the time given is August 8.

What did Piyush Goyal say ?

Union Commerce and Industry Minister Piyush Goyal had said in the Lok Sabha that the impact of the import duty (tariff) imposed by the US on India is being assessed and all necessary steps will be taken to safeguard and advance the national interest.

Goyal also said that the Modi government gives utmost importance to the protection and promotion of all stakeholders including farmers, workers, entrepreneurs, exporters, MSMEs and industry.

Goyal, in his statement in the House, gave information about the talks with America and said that four face-to-face meetings took place between the two sides in Delhi and Washington and several times talks were held through digital medium.

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Trump cited India’s high tariffs, “most” of its military equipment and energy purchases from Russia as well as “non-monetary trade barriers” as the reasons behind his decision.

Trump said that India will have to pay 25 percent duty and penalty from August 1. He further said that our trade deficit with India is very high. However, the US President described India as his ‘friend’ in a social media post.

He said, “India is our friend, but we have done relatively little trade with them over the last several years because their tariffs are very high, the ‘highest’ in the world. They have the ‘most stringent and obnoxious’ non-monetary trade barriers.”

Besides, they have always purchased the bulk of their military equipment from Russia, and are the biggest buyer of Russian energy along with China, while everyone wants Russia to stop the killings in Ukraine, he said.

The US President said, “Everything is not fine! That is why India will have to pay 25 percent duty and ‘penalty’ for purchases from Russia from August 1.”

There has been no response from India yet on Trump’s announcement.

A US team is scheduled to visit India next month for the next round of talks on the proposed bilateral trade agreement.

Teams from India and the US completed the fifth round of talks on the agreement in Washington last week.

India’s Chief Negotiator and Special Secretary in the Department of Commerce, Rajesh Agarwal, and Assistant US Trade Representative for South and Central Asia, Brendan Lynch, held the discussions.

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Trump said that India imposes high tariffs on American goods, in response to which this “reciprocal tariff” has been imposed. This tariff will be effective from August 1, 2025. Now the talks on this can resume after the second week of August.

This could have a profound impact on Indian exporters, especially in the automobile, pharmaceutical, and gem and jewelry sectors. The Indian government has begun studying the decision and has talked about accelerating trade talks. Experts believe that this tariff could put pressure on India’s economy and the value of the rupee.

Trump had already indicated

Earlier, Donald Trump had said that India could face import duties (tariffs) of up to 25% if the India-US trade deal is not finalized this week. On Tuesday, when reporters asked him whether India would have to pay higher tariffs if there is no deal, Trump replied, “Yes, I think so.”

The US had given India and some other countries a deadline of August 1. It was said that either they should reach a trade agreement by this date or they would have to face increased tariffs.

The conversation had been going on for a long time.

For the past few months, Indian and American officials have been negotiating this trade deal, but at times they have appeared optimistic and at other times on alert mode. It was not clear when the agreement would be reached and what it would entail.

When asked what he expects from India in a potential deal, Trump said, “We’ll see what happens. India has been a good friend, but India has put up more tariffs than almost every other country so far.” He added, “But now I’m in charge, and it can’t go forward.”

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Apart from this, strict travel restrictions have also been imposed on seven other countries. According to the White House, Donald Trump issued a declaration to impose a travel ban on citizens of 12 countries, citing national security risks. The White House said in a statement, “This declaration completely bans and limits the entry of citizens of those 12 countries, which have been found to be inadequate in terms of screening and investigation and who are estimated to pose a very high risk to the US.”

“President Trump is fulfilling his promise to protect Americans from dangerous foreigners who seek to come to our country and do us harm,” White House spokeswoman Abigail Jackson posted on social media platform X. During his early presidency, Trump imposed bans on travellers from seven Muslim-majority countries, Reuters reports. However, his successor, Democratic President Joe Biden, ended these bans in 2021. However, Trump claimed that the 2017 ban had prevented attacks in the US.

“The recent terrorist attack in Boulder, Colorado, underscores the extreme threat to our country posed by the entry of foreign nationals who have not been properly vetted,” President Trump said in a video message from the Oval Office posted on X.

“We cannot allow what happened in Europe to happen in the United States,” Trump said. “We cannot allow open migration from any country where we cannot safely and reliably test and screen. That is why today I am signing a new executive order banning travel on Yemen, Somalia, Haiti, Libya, and many other countries.”

Which are the 12 banned countries?

The 12 countries that have been banned include Afghanistan, Iran, Chad, Equatorial Guinea, Republic of Congo, Eritrea, Haiti, Somalia, Libya, Sudan, Yemen and Myanmar. Citizens of these countries will never be able to enter the US. This ban on these countries will come into effect from 12:01 am on Monday.

Apart from these countries, Donald Trump has also imposed a ban on people coming from 7 other countries. These include Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. Strict conditions and special investigations will now be applicable on passengers coming from these countries. Experts say that Trump’s new executive order may face significant legal challenges.

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Recently it reached 2,830 dollars. In India too, the price of gold had reached Rs 84,900 per 10 grams. The reason for this is said to be the tariff policy of US President Donald Trump. Commodity experts say that given the uncertainty in the global economy, the rise in gold is expected to continue.

After the closure of the Sovereign Gold Bond ( SGB ) scheme, now the only options left for investing in gold are Gold ETF and Gold Mutual Fund . Investments can be made in both of these in the secondary market. If needed, you can easily sell the investment. Investing in both of these options is easier than investing in physical gold, because in these you do not have to worry about the purity of gold.

Gold ETF

Gold ETF tracks the prices of physical gold. This means that the prices of gold ETF fluctuate according to the fluctuations in gold prices. The value of gold ETF is based on the price of gold. This is because gold ETF invests its money in physical gold. The value of one unit of gold ETF is equal to one gram of gold.

Gold ETFs are listed in the stock markets. Therefore, investing in them is safe. They also have good liquidity. A demat account is necessary to invest in gold ETFs. Apart from this, there is an entry load on investing in gold ETFs. There is an exit load on selling.

Gold Mutual Fund

Gold mutual funds are open-ended funds that invest in units of gold ETFs. Every gold mutual fund has a fund manager who takes investment decisions. The units in a gold mutual scheme have a net asset value (NAV). Since the assets of a gold mutual fund are managed by a fund manager, its returns can be higher than the returns of gold in the long term. The expense ratio of a gold mutual fund is slightly higher than that of a gold ETF.

One can invest in Gold Mutual Fund with less money as compared to Gold ETF. This makes it easier for retail investors to invest in it. A demat account is also not required to invest in Gold Mutual Fund. According to Value Research, the one-year return of Gold Mutual Funds is 29.45 percent.

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