US EditionBessent says disappointed by EU-India deal; South Korea must ratify trade deal
- On Tuesday, the European Union finalized a long‑delayed trade deal with India to boost two‑way trade and reduce reliance on the United States, cutting tariffs on 96.6% of traded goods and saving $4.8 billion in duties, the EU said.
- Brussels resisted joining Washington's 25% tariffs on India last year while negotiating a trade deal, and Bessent said Europe bought refined products made with sanctioned Russian oil supplies.
- Scott Bessent, U.S. Treasury Secretary, said on Wednesday he was disappointed by Europe, adding, `They should do what's best for themselves, but I will tell you, I found, I find the Europeans very disappointing`.
- President Donald Trump this week raised duties on imports from South Korea to 25% from 15%, citing slow moves by South Korea's parliament to implement a framework trade agreement, and South Korean officials are due in Washington on Wednesday for talks.
- This sequence of deals and threats underscores growing friction between the U.S. and its partners, as Scott Bessent last week signaled the U.S. might lift the 25% additional tariffs on India amid transatlantic trade relations tensions over Greenland.
42 Articles
42 Articles
With the free trade agreement, the Union seeks to perpetuate that bankruptcy model that has condemned us to decline: instead of seeing the end of globalisation and focusing on domestic consumption, as Dragons even suggests, it seeks markets for outlets.The specialty of the European Union's home, in any field, is the rejection of reality. Or, complementary element, the obtuse dominance of ideology. It is difficult to find other words in front of …
The EU-India mega-deal – European Council on Foreign Relations
In an emergency podcast episode, Mark Leonard welcomes James Crabtree, ECFR distinguished visiting fellow and former Mumbai bureau chief for the Financial Times, to discuss the long-awaited EU-India trade deal. The agreement, nearly 20 years in the making, was signed in New Delhi by Ursula von der Leyen, Antonio Costa and Narendra Modi, and has been dubbed the “mother of all deals”. It aims to integrate two massive markets—representing a quarter…
‘Trade more important than ending war in Ukraine’: US Treasury Secretary Scott Bessent slams EU over FTA with India
US Treasury Secretary Scott Bessent criticized Europe's FTA with India, expressing disappointment over prioritizing trade over Ukraine's plight. His remarks reveal concerns about indirect support of the war through energy imports.
The US's troubles have increased following the trade agreement between India and the European Union. Economists claim that India has more deals than the US.
US Treasury Secretary expresses dismay over India-EU trade deal
New York: In the wake of the Free Trade Agreement (FTA) between India and the EU, the US has described the Europeans as “very disappointing”, saying they were unwilling to join Washington in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal. “Again, they should do what’s best for themselves, but I will tell you I find the Europeans very disappointing because the Europeans are on the front line of the Ukrain…
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