US EditionBessent says disappointed by EU-India deal; South Korea must ratify trade deal
- On Tuesday, the European Union finalized a long‑delayed trade deal with India to boost two‑way trade and reduce reliance on the United States, cutting tariffs on 96.6% of traded goods and saving $4.8 billion in duties, the EU said.
- Brussels resisted joining Washington's 25% tariffs on India last year while negotiating a trade deal, and Bessent said Europe bought refined products made with sanctioned Russian oil supplies.
- Scott Bessent, U.S. Treasury Secretary, said on Wednesday he was disappointed by Europe, adding, `They should do what's best for themselves, but I will tell you, I found, I find the Europeans very disappointing`.
- President Donald Trump this week raised duties on imports from South Korea to 25% from 15%, citing slow moves by South Korea's parliament to implement a framework trade agreement, and South Korean officials are due in Washington on Wednesday for talks.
- This sequence of deals and threats underscores growing friction between the U.S. and its partners, as Scott Bessent last week signaled the U.S. might lift the 25% additional tariffs on India amid transatlantic trade relations tensions over Greenland.
19 Articles
19 Articles
The US's troubles have increased following the trade agreement between India and the European Union. Economists claim that India has more deals than the US.
US Treasury Secretary expresses dismay over India-EU trade deal
New York: In the wake of the Free Trade Agreement (FTA) between India and the EU, the US has described the Europeans as “very disappointing”, saying they were unwilling to join Washington in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal. “Again, they should do what’s best for themselves, but I will tell you I find the Europeans very disappointing because the Europeans are on the front line of the Ukrain…
'Trade Above Ukraine': Team Trump Blasts Europe Over India-EU Deal
Bessent accused European countries of indirectly financing the conflict they publicly condemn. After Russia invaded Ukraine and the imposition of Western sanctions, India significantly increased its purchases of discounted Russian crude oil.
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The Economic TimesUS Treasury Secretary Scott Bessent Reiterates Claim That Europe is 'Funding the War Against Itself'
He highlighted European imports of refined fuel from India made from sanctioned Russian crude, suggesting these practices contradict support for Ukraine and weaken economic pressure on Russia.
Trump Treasury chief Scott Bessent slams India-EU trade deal, says Europe put commerce over Ukraine
US Treasury Secretary Scott Bessent condemns Europe's new free trade agreement with India, arguing it shows a troubling preference for commerce over humanitarian support for Ukraine. His remarks came a day after the India-EU FTA was finalised during a summit in New Delhi.
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