Ready to pay heavy price for our farmers, fishermen: Modi on Trump tariffs

Prime Minister Narendra Modi on Thursday said India would not compromise on the interests of its farmers, fishermen or dairy farmers, even if it meant him "paying a heavy price".

The Prime Minister's remarks came as a first response to US President Donald Trump's decision to increase India’s tariff rate to 50 per cent, up from 25 per cent, for importing Russian oil.

Speaking at the MS Swaminathan Centenary International Conference, PM Modi said, “For us, the welfare of our farmers is the highest priority. India will never compromise on the interests of its farmers, livestock rearers, and fishermen. I know that I will have to pay a heavy personal price for this. But I am ready for it.”

He added, “India stands prepared today for its fishermen, livestock rearers, and every farmer of this nation. We are consistently working towards increasing farmers' incomes, reducing the cost of cultivation, and creating new sources of earnings. Our government has considered the strength of farmers as the foundation of the nation’s progress.”

Trump doubles tariffs, citing energy threats

On Wednesday, Trump signed an executive order raising tariffs on Indian goods to 50 per cent. He cited India’s continued imports of Russian oil as an “unusual and extraordinary threat” to the United States.

The first tranche of a 25 per cent tariff took effect Thursday. The second 25 per cent hike is scheduled to be implemented on August 27.

India’s Ministry of External Affairs (MEA) responded by calling the move “unfair, unjustified and unreasonable”, and said New Delhi would take “all actions necessary to protect its national interests.”

“The United States has in recent days targeted India’s oil imports from Russia,” the MEA said. “We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.”

Stalled trade talks deepen tensions

The renewed tensions come amid stalled progress in the proposed Bilateral Trade Agreement between the two countries. Talks, which began in March 2025, have remained deadlocked.

One major sticking point has been India’s refusal to offer tariff concessions on agricultural goods, dairy, and genetically modified (GM) food products.

A PTI report, citing government officials, said India’s position stems from structural and livelihood concerns, given that over 700 million people depend on agriculture for their livelihoods.

New Delhi has maintained that tariff protections are essential to safeguard its agri-sector from disruptions caused by subsidised US farm exports.