Washington: Following the imposition of a steep 50% tariff on Indian goods, US Treasury Secretary Scott Bessent has clarified that the move isn’t solely tied to India’s imports of Russian crude oil. In an interview with Fox Business on Wednesday, just after an additional 25% “penal” duty took effect for those oil dealings, Bessent highlighted frustrations over the prolonged negotiations for a bilateral trade agreement.
“I expected we’d seal a deal by May or June India could have been one of the first,” Bessent told the outlet, adding that Indian negotiators seemed to string things along. Despite the tensions, he expressed optimism, noting, “India is the world’s largest democracy, and the US is the world’s largest economy. I think at the end of the day, we will come together.”
India has maintained an open stance on continuing discussions, though with firm boundaries on sensitive areas like agriculture and small-scale manufacturing, as reported by Hindustan Times. Bessent’s comments came in response to queries about India’s defense of its Russian oil buys pointing out that other nations continue similar purchases amid Russia’s conflict with Ukraine.
He described the US-India dynamic as “very complicated,” while praising the rapport between President Trump and Prime Minister Modi. Bessent noted that talks kicked off promptly after what Trump calls “Liberation Day” on April 2, symbolizing a fresh era of US economic independence. This early momentum led US officials to anticipate a swift resolution.
However, a planned US delegation trip to New Delhi for the sixth round of talks was called off this week. Key milestones include Commerce Minister Piyush Goyal’s March visit to Washington to meet counterpart Howard Lutnick, followed by a US team heading to Delhi later that month. In April, during Vice President JD Vance’s trip, both sides agreed on the framework for negotiations.
The escalating tariffs underscore ongoing strains, even as both nations signal a willingness to bridge differences.
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