Bloomberg Podcasts
@bloombergpodcasts·503K subscribers·32.4K videos
India Weighs Giving Trump Trade Concessions After 50% Tariff Hit
Posted
August 7, 2025
Views
41,781
Likes
173
Comments
270
Engagement
August 7, 2025
41,781
173
270
1.06%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
4:30Now PlayingNew Delhi officials are weighing their options on trade concessions they can offer to the US after President Donald Trump’s decision to impose a 50% tariff on Indian goods, according to people familiar with the matter.
India views the 21-day window before the new duties take full effect as an opportunity to keep negotiations with the Trump administration, the people said, asking not to be identified discussing sensitive matters. At this stage, officials are not planning to retaliate, they added.
rime Minister Narendra Modi pledged to do whatever it takes to safeguard the interests of Indian farmers, a day after President Donald Trump doubled tariffs on Indian goods, with pressure mounting on New Delhi to open up its markets to US exports.
“For us, our farmers’ interests are top priority,” Modi said to applause at a conference in New Delhi Thursday. “India will never compromise with the interests of its farmers, herders, and fishermen. And I know that, personally, I will have to pay a heavy price for this — but I am ready for it.”
Modi’s commitment comes as Washington wants greater market access for its dairy products and genetically modified crops. It underscores New Delhi’s efforts to protect a politically-sensitive sector, while managing stalled trade talks and potential domestic backlash.
The government is constantly working to boost farmer incomes, lower cultivation costs, and diversify their sources of livelihood, Modi said, without making any direct reference to Trump’s move to raise tariffs on Indian goods to 50% as a penalty for India’s Russian oil purchases.
Indian Prime Minister Narendra Modi talked trade with his Brazilian counterpart and is expected to head to China for the first time in seven years in August, against the backdrop of worsening ties with the US.
Brazil’s President Luiz Inacio Lula da Silva and Modi discussed the imposition of unilateral tariffs against their nations and reiterated plans to strengthen trade ties in a Thursday call that lasted nearly an hour, the Brazilian government said in a statement.
Although it didn’t mention Donald Trump by name, Lula’s government noted that “Brazil and India are, to date, the two countries most affected” by the wave of levies the US leader has unleashed.
Modi will also attend a summit of the Beijing-led regional security grouping — the Shanghai Cooperation Organisation — and will be holding a bilateral meeting with President Xi Jinping on the sidelines, officials in New Delhi said, asking not to be identified to discuss internal matters. The SCO summit it scheduled to be held in Tianjin on Aug. 31 and Sept. 1.
India’s Ministry of External Affairs didn’t immediately respond to an email seeking further comment.
While Modi’s call with Lula and the trip to China were previously scheduled, they take on added significance after Trump slapped India with 50% tariffs to penalize it for its trade barriers and purchases of Russian oil. India has signaled it won’t halt purchases of Russian energy and has described the US tariffs as “unjustified.”
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
