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Scott Bessant said on CNBC’s “Squawk on the US Street” program, “They can do what they think is best, but let me tell you, the attitude of the European countries is very disappointing because they are the vanguard of the Ukraine-Russia war.” To a question about the potential threat to the US from this major India-EU trade deal, he said European countries are moving towards free trade without Washington’s consent.
A major agreement has been reached between India and the European Union (EU). This deal has been called the “mother of all deals”. The US is not digesting the deal and has expressed dismay at the FTA between India and the European Union. US Treasury Secretary Scott Besant called it very disappointing, saying that because of this agreement, European countries are not supporting Washington in imposing tariffs on India for buying Russian oil.
Scott Bessant said on CNBC’s “Squawk on the US Street” program, “They can do what they think is best, but let me tell you, the attitude of the European countries is very disappointing because they are the vanguard of the Ukraine-Russia war.” To a question about the potential threat to the US from this major India-EU trade deal, he said European countries are moving towards free trade without Washington’s consent.
Besant added, “India started buying Russian oil, and guess who was buying refined products? European countries. So, European countries are funding a war against themselves. This is a situation that is unimaginable.” He added, “The US imposed a 25 percent tariff on India for buying oil from Russia, but the European countries do not want to support us and want this trade deal. So, whenever you see a European supporting the people of Ukraine, remember that they trade above the people of Ukraine.”
Trade is more important than ending the war in Ukraine.” When asked whether European countries need energy, Besant replied, “They want cheap energy, but if we were willing to buy Russian oil, we could get cheap energy, too.”
Prime Minister Narendra Modi, European Commission President Ursula von der Leyen, and European Council President Antonio Costa sealed the trade deal in New Delhi. After the deal, US Trade Representative Jameson Greer called India and the EU a big winner. New Delhi has gained significant market access and immigration opportunities, Greer said. The development comes at a time of global economic turmoil, which has been exacerbated by Trump’s tariff policies.
America is angry because of the India-EU free trade agreement! The US Treasury Secretary described the agreement as disappointing
