US EditionUS Treasury Secretary Scott Bessent hopeful India and America ‘will come together’, even as 50% tariffs hit Delhi
The US doubled tariffs to 50% on Indian imports due to India's Russian oil purchases and slow trade deal progress, impacting key sectors like textiles, leather, and gems & jewelry.
- On August 27, Washington implemented a 50% tariff on Indian imports, while U.S. Treasury Secretary Scott Bessent said he believes the two countries `will come together`.
- The tariff rise reflected the added 25% duties tied to India’s purchases of Russian crude oil, and stalled negotiations since India began talks early after April 2, 2025.
- Markets reacted as the Nifty 50 Index fell 0.85% to 24,500, analysts warned $150 billion worth of trade is at risk, and Foreign Portfolio Investors pulled about $30 billion in August, partly offset by $843 million from domestic investors.
- India pushed back, calling the actions `unjustified, unreasonable and unfair` and vowed to defend national interests; Prime Minister Narendra Modi said, `pressure on us may increase, but we will bear it`, and the next round of talks was cancelled.
- Upcoming diplomatic engagements include President Trump's anticipated visit to India for the Quad Summit later this year, while tariffs stem from Executive Order 14329 of August 6, 2025, with a 21-day negotiation window announced on August 7.
32 Articles
32 Articles
'India and US are trying to resolve trade issues', says Scott Bessent amid tariff standoff
Bessent claimed that the US currently has the upper hand in trade negotiations, which have been paused after the 50 per cent tariffs kicked in. He expressed dissatisfaction over New Delhi continuing to purchase Russian oil
If Indians don't budge, Trump won't: US adviser Hassett warns as tariffs hit 50%
Trump adviser Kevin Hassett accused India of "intransigence" in opening its markets to American products and suggested President Trump could harden his approach further if New Delhi refuses to yield ground.
After the implementation of 50% tariff, the US minister said- "I think we will work together with India..."
U.S. Treasury Secretary Discusses Intricate U.S.-India Relations - Real News Now
The United States Secretary of the Treasury, Scott Bessent, recently labeled the relationship between India and the US as highly intricate, simultaneously portraying a sense of optimism that the two countries might gradually find common grounds. Until now, the relationship has indeed been multifaceted and nuanced, with its fair share of challenges. The overall dynamics are shaped by the interactions between key governmental figures like Presiden…
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