Premium

US India trade talks: Days after Trump imposes new tariffs, US Treasury Secretary says: ‘India recalcitrant in trade talks’

US India trade talks, Trump India tariffs: Trump last week signed an executive order imposing a 50 per cent tariff package on India, including a 25 per cent levy on New Delhi’s imports of Russian oil, effective August 27.

Treasury Secretary Scott Bessent speaks to reporters in the James Brady Press Briefing Room at the White House. (AP)

US India trade talks 2025: India has been “a bit recalcitrant” in trade negotiations with Washington, US Treasury Secretary Scott Bessent said on Tuesday, even as President Donald Trump announced steep new tariffs on the country.

Speaking to Fox Business, Bessent said finalising all tariff and trade deals by the end of October was “aspirational,” adding, “The big trade deals that aren’t done or agreed, Switzerland is still around, India has been a bit recalcitrant.” He noted that US Trade Representative Jamieson Greer and legal teams were working to finalise agreements, news agency PTI reported.

“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’s (Donald Trump) doing peace deals, trade deals, tax deals,” he added.

Story continues below this ad

Trump last week signed an executive order imposing a 50 per cent tariff package on India, including a 25 per cent levy on New Delhi’s imports of Russian oil, effective August 27. The announcement coincided with preparations for the sixth round of bilateral trade talks, scheduled for August 25 in New Delhi.

Also read | Trumponomics was supposed to be a disaster. Then why hasn’t the US economy fallen off a cliff (yet)?

“That’s aspirational, but I think we are in a good position,” Bessent was quoted as saying by Reuters, adding “I think we can be, we will have agreed on substantial terms with all the substantial countries.”

Trump described India as Russia’s “largest or second-largest oil buyer,” claiming that his new tariff measures had delivered a significant blow to Moscow’s economy.

“They have tremendous potential in Russia to do well. They’re not doing well. Their economy is not doing well right now because it’s been very well disturbed by this,” Trump said.

Story continues below this ad

Ministry of External Affairs called the US move “unjustified and unreasonable,” vowing to take “all necessary measures to safeguard its national interests and economic security.”

Prime Minister Narendra Modi is expected to travel to New York next month to attend the United Nations General Assembly (UNGA) session, where Trump is also scheduled to speak on September 23.

This will be Modi’s second visit to the US this year. His first was in February, when he met Trump at the White House for a bilateral discussion.

Stay updated with the latest - Click here to follow us on Instagram

‘Violence in Nepal is heart-rending’: PM Modi expresses concern as KP Sharma Oli resigns

India2 hr ago

Prime Minister Narendra Modi showed worry about the turmoil in Nepal and stressed the need for peace and stability. The Nepal Army and security officials called for dialogue to restore order amidst growing protests and the resignation of Prime Minister K P Sharma Oli. The Indian government issued a safety advisory for Indian citizens, advising against travel until the situation improves.

View all shorts

Live Blog