U.S. Treasury Secretary Scott Bessent echoed President Donald Trump’s criticism of India’s rising imports of Russian oil, accusing New Delhi of “profiteering” from discounted crude. Speaking to Fox Business, Bessent stressed Trump’s strong ties with Prime Minister Narendra Modi and expressed optimism that the two nations would ultimately reconcile differences. His comments coincided with the implementation of steep 50% tariffs on Indian goods, following Trump’s August 6 Executive Order 14329. The tariffs, effective from August 27, have escalated trade tensions, though officials said negotiations continue to balance trade disputes with the broader U.S.-India strategic partnership. Earlier, Trump had announced additional 25% tariffs.
first published: Aug 28, 2025 09:11 am
A collection of the most-viewed Moneycontrol videos.
