Brief by Shorts91 Newsdesk / 03:10pm on 27 Jan 2026,Tuesday India Global
US Treasury Secretary Scott Bessent criticized the India-EU trade deal, accusing Europe of "financing the war against themselves" by purchasing refined oil products from India that use Russian crude. Defending Trump's 25% tariffs on Indian imports over Russian oil purchases, Bessent told ABC News that Europe's energy trade contradicts its security stance. He argued the US bears greater economic burden while Europe benefits from supply chain gaps. However, Bessent recently indicated tariff relief is possible, noting Indian refinery purchases of Russian crude "have collapsed." The Trump administration imposed up to 50% tariffs on Indian goods, doubled in August. India and EU formally announced their comprehensive free trade agreement conclusion. (PC: X)
