US Treasury Secretary Scott Bessent on Tuesday expressed confidence in resolving commerce frictions with India claiming that the “two nice international locations will get this solved”. Bessent, nevertheless, down performed the importance of the Shanghai Cooperation Organisation (SCO) summit the place Prime Minister Narendra Modi met Russian President Vladimir Putin and Chinese language President Xi Jinping.When requested about PM Modi’s engagement with Putin and Xi on the sidelines of the SCO summit in Tianjin, Bessent was dismissive. “It is a longstanding assembly, it’s referred to as the Shanghai Cooperation Group and I feel it’s largely performative,” he stated, chatting with Fox Information at Martin’s Tavern in Washington. “I feel on the finish of the day, India is probably the most populous democracy on the planet. Their values are a lot nearer to ours and to China’s than to Russia’s.”The US Treasury Secretary was additionally requested on India’s deepening ties with Russia, notably its purchases of discounted oil, which Washington argues helps to fund Moscow’s conflict effort.Bessent prompt that, regardless of present tensions, Washington stays assured concerning the long-term relationship. “I feel on the finish of the day, two nice international locations will get this solved. However the Indians haven’t been nice actors by way of shopping for Russian oil after which reselling it, financing the Russian conflict effort in Ukraine,” he stated.Bessent additionally confirmed that President Donald Trump is ready to contemplate additional sanctions on Russia in response to Moscow’s continued assaults on Ukraine. “So I feel with President Trump, all choices are on the desk, and I feel we’ll be analyzing these very intently this week,” he added. His remarks got here as Russia unleashed a recent barrage of missiles and drones on Kyiv, killing a minimum of 17 folks, together with 4 youngsters.Bessent stated Moscow had escalated its assaults on Ukraine regardless of repeated overtures for peace. “I feel all the things’s on the desk,” he stated. “President Putin, because the historic assembly in Anchorage, because the telephone name, when the European leaders and President Zelensky have been on the White Home the next Monday, has accomplished the alternative of following by way of on what he indicated he wished to do. As a matter of reality, he has, in a despicable, despicable method, elevated the bombing marketing campaign.”
‘Completely one sided’: Trump on commerce with India
President Trump echoed related frustrations on social media, calling the US-India relationship “completely one sided” and accusing New Delhi of sustaining “the best tariffs on the planet”. India has rejected the tariffs as “unjustified and unreasonable”, insisting that its power safety and agricultural pursuits can’t be compromised.Different senior Trump officers have struck a sharper tone. Commerce adviser Peter Navarro accused Indian refiners of turning the nation right into a “large refining hub and oil cash laundromat for the Kremlin” and went additional in attacking “Brahmins profiteering on the expense of the Indian folks.” Whereas describing Modi as a “nice chief,” Navarro argued that India’s continued engagement with Putin and Xi undermines its position because the world’s largest democracy.The Trump administration has already imposed reciprocal tariffs of 25 per cent on Indian items and a further 25 per cent levy on oil imports linked to Russia, pushing general duties to 50 per cent — among the many highest on the planet.