US Treasury chief flags India as ‘bit recalcitrant’ in trade talks
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US Treasury Secretary Scott Bessent. Image: Reuters
New York: India has been a “bit recalcitrant” in trade negotiations with the United States, Treasury Secretary Scott Bessent said.
“That’s aspirational,” Bessent said on Fox Business on Tuesday, responding to a question about wrapping up all tariffs and trade deals by the end of October.
“But I think we are in a good position. The big trade deals that aren’t done or agreed upon—Switzerland is still around, India has been a bit recalcitrant,” he added, noting that US Trade Representative Jamieson Greer and teams of lawyers “are busy papering all this over.”
Bessent further said, “So I think we will have agreed on substantial terms with all the substantial countries. And as I’ve been saying for a long time, the President (Donald Trump) is doing peace deals, trade deals, tax deals.”
The remarks come even as trade negotiations between India and the US continue. Meanwhile, Trump has imposed tariffs totaling 50 per cent on India, including 25 per cent on Delhi’s purchases of Russian oil, which will take effect from August 27.
Responding to the tariffs, the Ministry of External Affairs in New Delhi termed the move “unjustified and unreasonable,” adding, “Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.”
Last week’s announcement of Trump’s executive order imposing the additional 25 per cent tariffs comes ahead of the sixth round of bilateral trade negotiations, scheduled when a US team visits India from August 25. The two countries are aiming to conclude the first phase of the pact by fall (October-November) this year.
With PTI inputs