Indian Prime Minister Narendra Modi said on Thursday affirmed his unwavering commitment to India’s agricultural community, vowing to protect farmers, dairy producers, and fishermen even in the face of sweeping 50% U.S. tariffs.
"For us, our farmers' welfare is supreme," Modi said at an event in New Delhi.
"India will never compromise on the wellbeing of its farmers, dairy (sector) and fishermen. And I know personally I will have to pay a heavy price for it," he said.
The comments follow President Donald Trump announced a new 25% tariff on Indian goods on Wednesday, bringing the total duty to 50%- one of the highest imposed on a U.S. trade partner. The tariff, set to take effect on 28 August, is intended to penalise India for continuing its imports of Russian oil.
Although Indian Prime Minister Narendra Modi did not directly address the U.S. or the stalled trade talks, his remarks strongly defended India’s stance.
Negotiations between India and the U.S. collapsed after five rounds due to disagreements over opening India’s agricultural and dairy markets and halting Russian oil imports.
India’s foreign ministry has criticized the U.S. move as 'extremely unfortunate' and stated it will “take all necessary steps to safeguard national interests.”
Analysts note that India’s limited leverage, compared to China’s advantage in rare earth resources, may complicate a U.S. tariff response.
On the domestic front, India’s equity markets dipped modestly, with the benchmark Nifty 50 index falling between 0.5% and 0.6% amid investor concern over export vulnerabilities.
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An agreement between Iran and the U.S. to reopen the Strait of Hormuz is expected "soon," a U.S. official has said. The deal would result in the resumption of commercial shipping through the sea passage and the lifting of an American naval blockade on Iranian ports.
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions.
At least 77 people were killed after a powerful earthquake struck western Colombia early on Monday, toppling buildings across several cities and leaving people trapped under rubble.
A consortium including Amazon founder Jeff Bezos is reportedly close to agreeing a deal to acquire a roughly one-third stake in Premier League club Liverpool, according to multiple media reports on Monday.
Eclipse fever is building in Madrid as residents and visitors rush to secure protective glasses ahead of a rare total solar eclipse near sunset on Wednesday (12 August).
A gunman was arrested after opening fire at a local government office near Bangkok on Monday, days after a deadly school shooting renewed debate over gun control in Thailand.
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
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