Finance Minister Nirmala Sitharaman on Monday said it is “too soon” to assess the impact of recent tariff changes in the United States on the Indian economy, as the government continues to review the developing
situation.
Speaking to reporters in New Delhi, along with RBI Governor Sanjay Malhotra, Sitharaman said the Ministry of Commerce and Industry is closely examining the implications of the US tariff revisions on bilateral trade, investment flows and key export sectors.
“On the Indian economy, it is a bit too soon for me to comment,” Sitharaman said.
On February 20, the US Supreme Court invalidated ‘reciprocal’ tariffs imposed by President Donald Trump under IEEPA. Following the SC ruling, Trump signed an executive order imposing a fresh 10% global tariff on imports from all countries, effective February 24, 2026, under Section 122 of the Trade Act of 1974.
Further, on February 21, Trump hiked the proposed global tariff rate from 10 per cent to 15 per cent, sharply criticising a recent US court ruling and calling it “anti-American”.
On Gold, Silver Price Surge
FM Sitharaman said gold prices rose because central banks globally were buying a lot of the precious metals.
She added that the imports of gold and silver are not at alarming level, and the Reserve Bank of India (RBI) is monitoring it.
(The story will be updated shortly.)
