The U.S. Treasury Secretary, Scott Bessent, is „disappointed” by Europe’s decision to conclude a major trade agreement with India, stating that Brussels „put trade ahead of the Ukrainian people.”
Bessent told CNBC that Europe is buying refined petroleum products in India using sanctioned Russian oil and that it refused to align with the U.S. on higher tariffs imposed on India last year, as it negotiated its own trade agreement.
The European Union finalized the agreement with India on Tuesday, aimed at boosting bilateral trade and reducing the bloc's dependence on the United States amid global trade tensions.
The agreement is estimated to double EU exports to India by 2032, by eliminating or reducing tariffs on 96.6% of traded goods by value, saving European companies 4 billion euros annually.
When asked if such agreements that exclude the U.S. represent a threat, Bessent replied: "Do what's best for them, but the Europeans are very disappointing."
He emphasized that Europe's refusal to impose tariffs similar to those of Washington shows that "they put trade ahead of the Ukrainians."
His comments come in a tense climate, after President Donald Trump threatened to increase tariffs for some European countries, following their opposition to his Greenland initiatives, a threat later withdrawn but which heightened uncertainty in transatlantic relations.
Bessent suggested last week that the U.S. could eliminate the additional 25% tariff imposed on India, following its reduced imports of Russian oil.
Regarding South Korea, Bessent defended Trump's decision to raise tariffs from 15% to 25%, arguing that it is "useful to boost things," adding that the South Korean parliament must ratify the trade agreement agreed with the U.S. last year.
Trump said on Tuesday that he expects Washington and Seoul to find a solution, while South Korean officials arrive in Washington on Wednesday for further discussions.