"Two Great Nations Will Get This Solved": Team Trump Amid India Tariffs

US Treasury Secretary Scott Bessent expects quick resolution to India-US trade tensions

Washington:

The Trump administration is optimistic about promptly resolving trade disputes with India, as US Treasury Secretary Scott Bessent stated that the "two great countries will get this solved." However, Bessent criticized India's ongoing purchase of Russian oil despite US tariffs, warning that this trade is supporting Moscow's military operations in Ukraine.

In an interview with Fox Business, Bessent minimized the importance of Prime Minister Narendra Modi's meeting with Russian President Vladimir Putin and Chinese President Xi Jinping at the Shanghai Cooperation Organisation (SCO) summit in China, describing the gathering as "largely performative."

"This is a longstanding meeting, it's called the Shanghai Cooperation Organisation, and I think it's largely performative," Bessent remarked.

"I think at the end of the day, India is the most populous democracy in the world. Their values are much closer to ours and to China's than to Russia's."

The Trump administration official acknowledged that India's acquisition of Russian crude oil wasn't the sole reason behind President Trump's substantial 50 percent tariffs on India—the highest among Asian nations. Bessent indicated that stalled India-US trade negotiations were also a contributing factor to the White House's decision to increase duties.

"I think at the end of the day, two great countries will get this solved. But the Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine," he explained.

Previously, Trump had described trade with India as a "one-sided disaster" and claimed that high Indian tariffs prevent US goods from entering the Indian market.

Warning To Russia

The US official cautioned Moscow about additional American sanctions if the Kremlin doesn't end its war in Ukraine. He stated that "all options are on the table" as the Trump administration considers punitive measures against Russia, following Putin's continued bombardment of Ukraine despite recent peace talks in Alaska.

"I think everything's on the table. President Putin, since the historic meeting in Anchorage, since the phone call, when the European leaders and President Zelensky were at the White House the following Monday, has done the opposite of following through on what he indicated he wanted to do. As a matter of fact, he has, in a despicable, despicable manner, increased the bombing campaign, " Bessent said.

"So I think with President Trump, all options are on the table, and I think we'll be examining those very closely this week," he added.

Russia and Ukraine have continued bombarding each other in recent weeks, even after Russian President Putin met with President Trump in Anchorage, Alaska, in an attempt to advance a peace deal.