US Treasury Secretary Scott Bessent on Tuesday mentioned India has been headstrong in ongoing commerce negotiations with Washington, describing New Delhi as “a bit recalcitrant.” His remarks got here days after President Donald Trump introduced a further 25 per cent tariff on Indian imports, citing the nation’s Russian oil purchases. Bessent mentioned talks are persevering with with some nations, particularly mentioning Switzerland and India, and expressed hope of concluding tariff discussions by October. “There are huge commerce offers that are not finished and are not agreed. Switzerland continues to be round; India has been a bit recalcitrant. I feel we have now agreed on substantial phrases with all of the substantial international locations,” mentioned Bessent, talking to Fox Information Enterprise Community’s “Kudlow”. When requested about the potential for concluding tariff negotiations by October, he added, “That’s aspirational. I feel we’re in an excellent place.”Additionally learn: PM Modi prone to go to New York, UNGA deal with on playing cards; journey amid Trump tariff row
50% Tariff risk
On August 6, Trump authorised an government order imposing the extra 25 per cent responsibility, bringing the whole tariff on Indian items to 50 per cent. The White Home mentioned the transfer was primarily based on nationwide safety and overseas coverage issues, arguing that India’s Russian oil imports pose “an uncommon and extraordinary risk” to america. The brand new tariff takes impact on August 27.Additionally learn: India exports technique: Focus shifts to 50 nations; plan goals to offset US tariff blow The Ministry of Exterior Affairs referred to as the choice “unfair, unjustified and unreasonable” and mentioned New Delhi would take vital steps to guard its nationwide pursuits. The US transfer follows the implementation of a 25 per cent reciprocal tariff on Indian items from August 7. Trump has insisted that commerce talks with India will stay on maintain till the tariff dispute is settled. Requested by ANI on the Oval Workplace if dialogue might resume following the hike to 50 per cent, he replied: “No, not till we get it resolved.”As of now, India is going through 25% tariffs with further 25% set to go in impact from August 27.