The Donald Trump administration has expressed confidence that ongoing trade tensions with India will be resolved, even as it criticised New Delhi’s continued import of Russian crude oil.
US Treasury Secretary Scott Bessent, speaking to Fox Business, said Washington believes “two great countries will get this solved,” referring to the tariff disputes and sluggish trade talks between India and the US.
Bessent, however, reiterated concerns that India’s purchase and resale of Russian oil is indirectly supporting Moscow’s war in Ukraine. “The Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort,” he said.
Trump’s stance on India trade
Earlier, President Trump had called trade with India a “one-sided disaster,” pointing to high Indian tariffs that, he claimed, restrict American goods from entering the Indian market. The White House recently imposed a 50% tariff on Indian exports—the highest for any Asian country.
According to Bessent, the decision was not only about Russian oil but also about India’s slow engagement in bilateral trade negotiations.
On Modi’s SCO meeting
Commenting on Prime Minister Narendra Modi’s participation in the Shanghai Cooperation Organisation (SCO) summit alongside Russian President Vladimir Putin and Chinese President Xi Jinping, Bessent described the gathering as “largely performative.” He added that India’s values were ultimately closer to those of the United States than to Russia’s.
Warning to Russia
The Treasury Secretary also issued a warning to Moscow, saying that additional US sanctions are being considered if Russia does not scale back its war in Ukraine.
“President Putin has, in a despicable manner, increased the bombing campaign despite recent peace discussions,” Bessent said, adding that under Trump’s leadership, “all options are on the table.”
Talks between Trump and Putin in Anchorage, Alaska, earlier this month had raised hopes for progress, but both Russia and Ukraine have continued heavy bombardments in recent weeks.
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