Just hours after President Donald Trump claimed that India had offered to reduce tariffs to zero, US Treasury Secretary Scott Bessent voiced optimism that trade disputes could be settled. He said, “Two great countries will get this solved,” stressing that Washington and New Delhi could overcome their differences.
Trump Calls Trade ‘One-Sided Disaster’
President Trump took a harsher stance on India’s trade practices. In a Truth Social post, he called trade with India a “one-sided disaster.” He accused India of restricting American businesses through what he described as “the highest tariffs of any country,” while continuing to sell large volumes of goods to the US.
Bessent Highlights Bilateral Strength
In contrast, Bessent struck a more measured tone during an interview with Fox News. He highlighted the strength of ties between the two democracies and expressed faith that cooperation would prevail. “Two great countries will get this solved,” he reiterated.
On India’s SCO Role
Bessent also addressed Prime Minister Narendra Modi’s recent meeting with Russian President Vladimir Putin and Chinese President Xi Jinping at the Shanghai Cooperation Organisation (SCO) Summit. He dismissed concerns, saying the gathering was “largely performative.” He added, “At the end of the day, India is the most populous democracy in the world. Their values are much closer to ours than to China’s or Russia’s.”
Criticism of Russian Oil Imports
However, Bessent strongly criticised India’s continued imports of Russian crude. “The Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine,” he said.
Trade Talks and Tariffs
Bessent pointed to the slow pace of trade negotiations as one reason for Washington’s decision to raise tariffs on Indian goods. He also noted that “all options are on the table” as the Trump administration considers further action against Russia. According to him, President Vladimir Putin continues to escalate attacks despite ongoing peace talks.