Scott Bessent Highlights India's Trade Stance Amid U.S. Tariffs

Trade Negotiations Between India and the U.S.

New York: According to Treasury Secretary Scott Bessent, India has shown some reluctance in its trade discussions with the United States.

During an interview on Fox Business on August 12, 2025, he remarked, "That’s aspirational," when asked about the possibility of finalizing all tariffs and trade agreements by the end of October.

Bessent noted, "We are in a favorable position. The significant trade agreements that remain unresolved include Switzerland, and India has been somewhat resistant," adding that U.S. Trade Representative Jamieson Greer and his legal team are actively working on these matters.

"I believe we will reach substantial agreements with all major countries. As I have consistently stated, the President (Donald Trump) is engaged in peace, trade, and tax agreements," he continued.

Despite ongoing negotiations, President Trump has enacted tariffs amounting to 50% on India, which includes a 25% tariff on India's imports of Russian oil, set to take effect on August 27.

In response, India's Ministry of External Affairs described the tariffs as "unjustified and unreasonable."

"As a major economy, India will implement all necessary actions to protect its national interests and economic security," the ministry stated.

The recent announcement of additional tariffs coincided with a scheduled visit from a U.S. delegation to India on August 25 for the sixth round of discussions regarding the proposed bilateral trade agreement.

Both nations aim to finalize the initial phase of this agreement by the fall (October-November) of this year.