US Treasury Secretary Scott Bessent alleged that Europe was putting trade ahead of the interests of the Ukrainian people by signing a free trade agreement (FTA) with India, expressing his disapproval of the deal, according to CNBC.
According to his statement, Europe was purchasing refined products made in India via Russian oil and was not ready to match the higher US tariffs levied on Indian goods due to them separately hashing out a trade agreement.
“They should do what’s best for themselves, but I will tell you, I found, I find the Europeans very disappointing,” Bessent said when asked if deals made between countries that did not involve the US was a threat to them.
He stated that the deal was the reason why the European body had refrained from joining the US in its decision to impose 25% tariffs on India in order to make the country cut down on its purchase of Russian crude oil.
“The Europeans were unwilling to join us, and it turns out, because they wanted to do this trade deal. So every time you hear a European talk about the importance of the Ukrainian people, remember that they put trade ahead of the Ukrainian people,” he said.
Bessent also expressed support for the Trump administration’s decision to increase import duties on South Korea to 25% from 15% citing sluggish progress on the implementation of a framework trade agreement stating that it was “helpful to get things moved along.”
Also Read: ‘Significant Progress’: India, US Move Closer To Landmark Trade Deal
India and the US are also on track to achieving a trade deal, with significant progress made so far in the discussions between the two sides, as per government sources.
The development comes four days after Bessent had signalled that half of the tariffs imposed on India — 25% levies — could be waived as India has significantly trimmed its import of Russian crude oil.
“We put 25% tariffs on India for buying Russian oil, and the Indian purchases by their refineries… have collapsed,” Bessent told Politico on the sidelines of World Economic Forum in Davos. “I would imagine there is a path to take them off,” he added.
