Chief Economic Advisor (CEA) V. Anant Nageswaran, Government of India, has made a big statement by US President Donald Trump about the impact of 50 percent tariff imposed on India. Anant said that 50 percent tariffs imposed on Indian goods by Donald Trump will not be applicable for long, as the trump’s step will not be positive for the overall relations of the two countries for a long time.

With this, CEA Anant Nagswaran has also warned that 25 percent tariffs imposed on the purchase of crude oil from Russia will be extremely difficult to trade and Trump’s adverse effects of this move can be seen in the second and third quarter of the current financial year. He also expressed concern that if there is no change in the situation, then its effect can also go till the next financial year.

India’s 50 percent tariff imposed on India in a gap of 20 days

This statement of the Chief Economic Advisor of the Government of India has come at a time when tension has increased between India and America over 50 percent tariffs on Indian goods. The US implemented a 25 percent tariff on India on August 27, 2025 to import Russian oil, which is in addition to 25 percent tariffs applied to other 70 countries in the world on August 7, 2025.

What did the Chief Economic Advisor of the Government of India say about the US tariff?

Nageswaran told the Indian Express, ‘I think this high tariff on India will not last long but it will be short -lived. There are also indications that America is now beginning to understand that by applying high tariffs on India, it will not get the results according to its mind and the tariff imposed on India is also affecting America.

He said, ‘If you ask me for any concrete evidence in this regard, then in the last few days I have no concrete evidence in addition to mixed messages, so that it can be said that the second 25 percent tariff will last long on India. But I believe that it will remain not for a long time, but for a very long time. At the same time, efforts will definitely be seen from the other side to make some balance to some extent.

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India-Rus Relationship: The US remains India’s largest trading partner for the fourth consecutive time in FY 2024-25. Government data has shown that bilateral trade between the two countries has reached $ 131.84 billion. At the same time, India’s trade deficit with China has increased to $ 99.2 billion.

China is India’s second largest trading partner

India’s exports to China declined by 14.5 percent to US $ 14.25 billion in the last financial year, compared to US $ 16.66 billion in 2023-24. However, imports from China in 2024–25 rose 11.52 percent to US $ 113.45 billion, as compared to US $ 101.73 billion in 2023–24. In the last financial year, the trade deficit with China increased by about 17 percent to $ 99.2 billion, which was $ 85.07 billion in 2023-24. China is India’s second major trading partner after two-way trading of US $ 127.7 billion in 2024-25. At the same time, it was US $ 118.4 billion in 2023-24.

United Arab Emirates at number three

According to Commerce Ministry data, China was the top trading partner in India from 2013-14 to 2017-18 and also in 2020-21. Prior to China, the United Arab Emirates was India’s largest trading partner. America is India’s largest trading partner since 2021-22. During the last financial year, UAE became India’s third largest trading partner with US $ 100.5 billion.

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