On July 31, 2025, the US President Donald Trump announced a 25% tariff on Indian goods, effective from 1 August 2025. Post the announcement a claim is going viral on the internet. A user on X, from the account ‘NavCom24’ claimed “Financial emergency declared in India with $60 billion wiped off as Trump announces 25% tariff”.
Another user with the username ‘Vecnassy’, quotes the same post. They user posted it with the caption “Lol they were trying to Isolate Pakistan
And worshiping Trump. Everything goes in Oil”
Fact Check
DFRAC searched on the internet and found the viral claim to be false. There are no legitimate media reports or any official declaration of the President of India that a financial emergency has been imposed in India.
An article of ‘Reuters’ was also found. Published on 31 July 2025, the article is titled “Trump tariffs rattle India’s markets, cloud growth outlook”. Furthermore, it says, “India’s benchmark equity indices, the Nifty 50 (.NSEI) and BSE Sensex (.BSESN), fell about 0.6% each. While the rupee declined to an over five-month low of 87.74. Before paring losses amid likely dollar-selling intervention by the central bank.” Nowhere in the article mentions that there is a financial emergency in India or that India lost 60 billion dollars.
Conclusion
As there is no official statement to prove the viral statement that a financial emergency has been declared and that India lost 60 Billion dollars, we conclude that the viral statement is false.
