Comparing the India-US trade talks to a marathon, Kevin Hassett said that these negotiations need a long-term outlook, and there will be ups and downs before both the parties come together for a final position.
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US tariffs on Indian exports
Trump Tariffs : Donald Trump’s top economic adviser has sounded a warning for India amid 50 per cent US tariffs on Indian exports.
Speaking to reporters, US National Economic Council Director Kevin Hassett called ongoing India-US trade talks “complicated” and accused India of “intransigence” in the opening of its market to American products.
Kevin Hassett said the trade negotiations with India were complicated, and claimed that a part of the talks “has been tied to the pressure we’ve been trying to put on Russia in order to secure a peace deal and save millions of lives.”
“And then there’s the Indian intransigence about opening their markets to our products,” he added.
India-US trade talks
Comparing the India-US trade talks to a marathon, Hassett said that these negotiations need a long-term outlook, and there will be ups and downs before both the parties come together for a final position.
“When you look at trade negotiations, one lesson we’ve all learnt is that you need to keep your eyes on the horizon and recognise that there are going to be ebbs and flows before we reach the final position,” he said.
Accusing India of “intransigence”, Kevin Hassett said that Donald Trump will not budget if India does not.
“If the Indians don’t budge, I don’t think President Trump will either,” he said.
US from Wednesday doubled its tariffs on Indian exports, apparently for its purchase of Russian oil, even though such impositions were not made on countries like China that also buy Moscow’s products. The Trump tariff on India now stands at 50 per cent — the highest in the world along with Brazil.
Scott Bessent echoes Kevin Hassett
Another Donald Trump aide, Scott Bessent, on Wednesday told Fox Business that India had been profiteering on Russian crude purchases, echoing Kevin Hassett’s strong opinions about New Delhi.
US Treasury Secretary Scott Bessent accused India of ‘tapping’ the US along in terms of India-US trade deal talks.
“The Indians came in very early, after Liberation Day, to start negotiating on tariffs. And we still don’t have a deal. I thought that we would have a deal in May or June. I thought India could be one of the earlier deals,” he said.
“They kind of tapped us along in terms of the negotiations and then there is also the aspect of the Russian crude purchases, which they’ve been profiteering on. There are many levels going on here,” Scott Bessent added.
He said India’s negotiating stance has been “performative”, noting the US’ advantage as the deficit country in trade relations.