India, US ‘will come together’ despite strains, says Scott Bessent

US Treasury Secretary Scott Bessent said on Wednesday that India and the United States would ultimately find common ground despite frictions over tariffs and New Delhi’s sharply increased purchases of Russian crude.In an interview with Fox News, Bessent said ties between the two countries were “very complicated,” noting that trade talks launched soon after “Liberation Day” had yet to yield a deal. US President Donald Trump had designated April 2, 2025, as “Liberation Day,” when new tariffs took effect to cut the US trade deficit and reduce reliance on foreign goods.

Bessent also flagged concerns over India’s growing imports of discounted Russian oil, but added: “At the end of the day we will come together.”
Earlier this month, Bessent accused India of “profiteering” from cheap Russian crude, saying the country had been reselling discounted oil in global markets in what he described as “Indian arbitrage,” which Washington viewed as unacceptable. Russian oil now accounts for about 42% of India’s imports, up from less than 1% before the Ukraine war, compared with a more modest rise in China’s share to 16% from 13%.Trump this month announced an additional 25% tariff on Indian goods over the Russian oil trade, bringing total additional tariffs on Indian exports to 50%. The latest duty took effect today, August 27, 2025. Hopes of a India-US trade deal have repeatedly slipped despite earlier forecasts by officials that an agreement was near.