Trump Frustrated with India Trade Talks
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US Treasury Secretary says President Trump and his team are frustrated with India over slow-moving trade talks and India's purchase of Russian oil. New tariffs announced.
New York, Jul 31 (PTI) US Treasury Secretary Scott Bessent on Thursday said that President Donald Trump and the whole trade negotiation team have been "frustrated" with India over the trade talks.
His comments came a day after Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.
Well, I don't know what's going to happen. It will be up to India. India came to the table early. They've been slow rolling things. So I think that the President, the whole trade team, has been frustrated with them," Bessent said in an interview with CNBC.
He also said India has been a large buyer of sanctioned Russian oil, which they then resell as refined products. "So, they have not been a great global actor, he added.
Trump's surprise announcement on Wednesday is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.
India has said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined.
His comments came a day after Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.
Well, I don't know what's going to happen. It will be up to India. India came to the table early. They've been slow rolling things. So I think that the President, the whole trade team, has been frustrated with them," Bessent said in an interview with CNBC.
He also said India has been a large buyer of sanctioned Russian oil, which they then resell as refined products. "So, they have not been a great global actor, he added.
Trump's surprise announcement on Wednesday is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.
India has said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined.
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