Daijiworld Media Network- New Delhi

New Delhi, Aug 8: Prime Minister Narendra Modi will hold a high-level meeting today to review the escalating trade tensions between India and the United States, following Washington’s decision to raise tariffs on Indian goods to a steep 50 per cent.

The latest 25 per cent hike, announced by US President Donald Trump on Wednesday, has been linked to India’s continued imports of Russian crude oil. This increase comes on top of a previous 25 per cent tariff imposed on July 20, further straining bilateral trade ties.

Terming the US move as “unfair, unjustified, and unreasonable”, the Ministry of External Affairs stressed that India’s energy requirements and strategic autonomy must be respected.

Speaking at the MS Swaminathan Centenary International Conference in Delhi on Thursday, PM Modi reaffirmed his government’s firm commitment to safeguarding the interests of farmers, fishermen, and livestock holders.

“The interest of farmers is our top priority. India will never compromise with the interests of its farmers, livestock holders, and fishermen. I know I will have to pay a huge price for this personally, but I am ready. India is ready, for the sake of the country's farmers, fishermen, and livestock holders,” the Prime Minister declared.

President Trump, however, dismissed the possibility of fresh negotiations with India over the tariffs. “No, not until we get it resolved,” he said when asked if talks were expected, confirming that the 50 per cent tariff will take effect from August 27.