Trump Tariff Tensions: India Has Been 'Recalcitrant' In Trade Talks, Says US Treasury Secretary Scott Bessent
Bessent hopes that the Trump administration will be done with trade negotiations by the end of October.
US Treasury Secretary Scott Bessent said on Tuesday that India has been "a bit recalcitrant" in talks with the United States, a week after Donald Trump announced an additional 25% tariff on the South Asian nation's imports.
Last Friday, Trump denied any discussions related to a trade deal with India, while the South Asian country said that talks are still on.
Bessent's comment came after the US imposed an additional tariff which will come into effect from Aug 27. The world's largest economy raised trade taxes on India, accusing it of funding the Ukraine-Russia war via oil imports from the latter.
New Delhi has called additional tariffs unjustified and unreasonable. It also reasoned that Europe and the US have continued to trade with Russia. The commerce ministry is focused on diversifying the export markets of India to 50 countries in Africa and the Middle East.
Prior to this, the Trump administration had imposed a 25% tariff on India, which was in effect from Aug 7.
Bessent said while talking to Fox Business Networks' 'Kudlow' that he hopes that the Trump administration will be done with trade negotiations by the end of October. Although he deemed the deadline ambitious, he assured that the US has agreed to terms with substantial countries.
