Search

    Select Website Language

    GDPR Compliance

    We use cookies to ensure you get the best experience on our website. By continuing to use our site, you accept our use of cookies, Privacy Policy, and Terms of Service.

    newshunt
    newshunt

    'Europe Financing War Against Themselves': US Reacts As India-EU Set To Ink 'Mother Of All Trade Deals'

    2 weeks ago

    US Treasury Secretary Scott Bessent slammed the India-EU free trade agreement, which is likely to be unveiled on Tuesday, saying that Europe is indirectly funding the Russia-Ukraine war and was "financing a war against itself" by signing its deal with India.

    Bessent said European governments were weakening their own security position by purchasing refined petroleum products from India, which he said are sourced from Russian crude. He argued that this stands in contrast to Washington’s stance, as the US continues to levy tariffs on India over the same issue.

    Speaking to ABC News, Bessent justified the Trump administration’s decision to impose high tariffs on Indian imports, directly linking the move to New Delhi’s energy trade with Moscow.

    "We have put 25 per cent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India," he said.

    "And just to be clear again, the Russian oil goes into India, the refined products come out, and the Europeans buy the refined products. They are financing the war against themselves," Bessent added.

    The comments come just as India and the European Union prepare to formally announce the conclusion of negotiations on a comprehensive free trade agreement at a high-level summit on Tuesday. The announcement is expected to mark the end of discussions that have stretched over 18 years.

     

    Click here to Read More
    Previous Article
    ABP Live Deep Dive | From Cars To Textiles: How The India-EU FTA Will Impact Key Indian Sectors
    Next Article
    'Not Living Up To Deal': Trump Hikes Tariffs On South Korea To 25% Over Delay In Trade Agreement

    Related World Updates:

    Are you sure? You want to delete this comment..! Remove Cancel

    Comments (0)

      Leave a comment