Fact Check: Did India Declare Financial Emergency After Trump’s 25% Tariff?

ByFactcheck India

August 2, 2025 #$60 billion market wipeout claim, #disinformation, #Donald Trump tariff India, #Fact Check India, #Factcheck_in, #FactCheckIndia, #Fake news, #fake news fact check India, #fakecheck, #India, #India financial emergency fake news, #misinformation, #PIB Fact Check, #social media,#TruthXIndia

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Claim: Did India Declare Financial Emergency After Trump’s 25% Tariff

Verdict: Fake News. No financial emergency has been declared in India.

Synopsis of the entire claim:

Recently, a sensational claim has been circulating on social media alleging that India declared a financial emergency after U.S. President Donald Trump imposed a 25% tariff on Indian goods. The viral posts further claim that there was a $60 billion market wipeout, pushing the Indian economy into crisis.

But is this really true? Has India actually declared a financial emergency for the first time in history? Let’s break down the facts with Factcheck India.

What Is the Viral Claim?

A Pakistani propaganda account with the handle @Middle_Eastern0 posted that India has declared a financial emergency after the tariff decision by Donald Trump. The post quickly gained traction, sparking panic among social media users.

The claim alleged:

“India has declared a financial emergency after a $60 billion market wipeout due to Trump’s 25% tariff.”

A Pakistani propaganda account is claiming that a financial emergency has been declared in India following a $60 billion market wipeout due to a 25% tariff announced by Donald Trump.#PIBFactCheck

❌This claim is #Fake

✅ No financial emergency has been declared in India… pic.twitter.com/cJRp1GeeA1
— PIB Fact Check (@PIBFactCheck) July 31, 2025

Such posts were widely shared, adding fuel to the narrative that India’s economy is collapsing due to U.S. trade actions.

PIB Fact Check Debunks the Fake News

The Press Information Bureau (PIB) Fact Check team, which routinely counters misinformation, has completely debunked this viral claim.

PIB clarified:

“Stay alert. Always rely on official sources for verified information!”

India’s Official Stand After Trump’s “Dead Economy” Remark

The controversy escalated after Donald Trump called India a “dead economy”, saying that India and Russia could “take their dead economies down together.” In response, Commerce and Industry Minister Piyush Goyal made a strong statement in the Lok Sabha, asserting that:

India remains the fastest-growing major economy in the world.
The country is on track to become the third-largest economy globally in the coming years.
The government is fully committed to protecting the interests of farmers, workers, entrepreneurs, exporters, and MSMEs.

Goyal emphasized that India will take all necessary measures to safeguard its national interest, despite Trump’s tariff decision.

Fact Check India Verdict

The claim that India has declared a financial emergency after Trump’s tariff announcement is completely FAKE. PIB has officially clarified that no financial emergency has been declared.

This viral post is yet another example of misinformation campaigns run by Pakistani propaganda accounts, aiming to spread panic and undermine India’s global image. False claims about financial emergencies can trigger market panic, fear among investors, and confusion among the public. Always rely on official sources like PIB, government notifications, or credible media outlets like Factcheck India before believing such news.

Stay Alert and Stay Vigilant with Factcheck India.