Washington, Aug 28: US President Donald Trump’s new tariffs on Indian goods took effect on Wednesday, raising levies to 50 per cent. This includes an extra 25 per cent tariff on India’s purchases of Russian oil.US Treasury Secretary Scott Bessent called the relationship between the two countries “complicated” but said he was confident they would “come together at the end of the day.”
Speaking to Fox Business, Bessent said he had expected a trade deal with India by May or June. However, he said India’s approach to talks was “performative” and had delayed progress.
“The Indians came in early after Liberation Day to start negotiating on tariffs, but we still don’t have a deal. I thought India could be one of our earlier deals. Instead, they dragged talks along. They are also profiting from Russian crude purchases,” he said.
Bessent stressed that Prime Minister Narendra Modi and Trump share a strong bond. “India is the world’s largest democracy, and the US is the world’s largest economy. I believe we will work things out,” he added.