• US Treasury Secretary Scott Bessent criticizes Europe’s trade deal with India, asserting it prioritizes trade over the Ukraine crisis.
• The EU-India agreement aims to significantly increase trade between the two, enhancing EU exports to India.
• Bessent's comments come amid concerns over US tariffs and the geopolitical implications of European trade decisions.

US Treasury Secretary Scott Bessent voiced his disappointment regarding the European Union's recent trade agreement with India, stating it indicates that Europe is placing trade interests ahead of the urgent geopolitical situation in Ukraine. He noted that European countries had been buying refined products from India that were made using sanctioned Russian oil and criticized their lack of cooperation with the US in imposing tariffs to curb such practices, according to SCMP and India Times.

The finalized EU-India trade deal, which aims to boost trade and reduce reliance on US markets, is anticipated to double EU exports to India by 2032 by eliminating tariffs on over 96% of traded goods. Bessent expressed that while nations should act in their self-interests, the decision to pursue this agreement reveals a troubling prioritization of trade over humanitarian concerns, particularly regarding the ongoing Ukraine conflict, according to Reuters and SCMP.

Bessent further elaborated that Europe had balked at supporting US trade measures against India, which included a 25% tariff on Indian goods linked to Russian oil purchases. He claimed that Europe’s reluctance stems from their desire to finalize the trade agreement with India, thus compromising their stated commitment to Ukrainian support. This statement reinforces his perspective that US efforts in the region are undermined by European decisions, according to India Times and Reuters.

These comments come in a broader context of US trade relations, where President Donald Trump has noted frustrations with European cooperation on trade tariffs. Recently, Trump threatened to increase tariffs on imports from certain European countries, causing anxiety about transatlantic trade dynamics, noted Bessent. He emphasized a pressing need for South Korea to ratify its own trade deal with the US, amidst rising tensions regarding both nations’ trade negotiations, according to Reuters and SCMP.