US Treasury Secretary Scott Bessent on Tuesday said India has been headstrong in ongoing trade negotiations with Washington, describing New Delhi as “a bit recalcitrant.” His remarks came days after President Donald Trump announced an additional 25 per cent tariff on Indian imports, citing the country’s Russian oil purchases.
Bessent said talks are continuing with some nations, specifically mentioning Switzerland and India, and expressed hope of concluding tariff discussions by October. “There are big trade deals that aren’t done and aren’t agreed. Switzerland is still around; India has been a bit recalcitrant. I think we have agreed on substantial terms with all the substantial countries,” said Bessent, speaking to Fox News Business Network’s “Kudlow”. When asked about the possibility of concluding tariff negotiations by October, he added, “That’s aspirational. I think we’re in a good position.”
50% Tariff threat
On August 6, Trump authorised an executive order imposing the additional 25 per cent duty, bringing the total tariff on Indian goods to 50 per cent. The White House said the move was based on national security and foreign policy concerns, arguing that India’s Russian oil imports pose “an unusual and extraordinary threat” to the United States. The new tariff takes effect on August 27.Also read: India exports strategy- Focus shifts to 50 nations; plan aims to offset US tariff blow The Ministry of External Affairs called the decision “unfair, unjustified and unreasonable” and said New Delhi would take necessary steps to protect its national interests. The US move follows the implementation of a 25 per cent reciprocal tariff on Indian goods from August 7. Trump has insisted that trade talks with India will remain on hold until the tariff dispute is settled. Asked by ANI at the Oval Office if dialogue could resume following the hike to 50 per cent, he replied: “No, not until we get it resolved.”As of now, India is facing 25% tariffs with additional 25% set to go in effect from August 27.