“They should do what’s best for themselves, but I will tell you, I found, I find the Europeans very disappointing,” Bessent replied when questioned about deals like this, where the United States is excluded, would threaten the US. He added that the EU-India trade deal explained why Brussels was unwilling to back the US decision to impose 25% tariffs on India last year to stop pressure on India to stop purchasing Russian oil.
Europeans out trade ahead of the Ukrainian people: Bessent
“The Europeans were unwilling to join us, and it turns out, because they wanted to do this trade deal,” Bessent said to CNBC. “So every time you hear a European talk about the importance of the Ukrainian people, remember that they put trade ahead of the Ukrainian people,” he added.
Bessent’s remarks come after the European Union signed the “Mother of All Deals” with India on Tuesday (27th January) to boost mutual trade and ease its dependence on the US. The deal was signed during the EU-India Summit, in which Prime Minister Narendra Modi hosted European Council President Antonio Costa and European Commission President Ursula von der Leyen. Both European leaders were also chief guests at the Republic Day celebrations.
EU-India trade to flourish under the trade deal
Under the deal, which has miffed the Trump administration, the EU exports to India are expected to double by 2032 as India will cut down tariffs on 96.6% of EU exports, with almost one-third of the reductions becoming effective immediately when the agreement comes into force in early 2027. Besides, the EU will remove tariffs on 99% of Indian exports by value over seven years, with duties set to be cut away on $33 billion in labour-intensive goods, including textiles, leather, footwear, gems and jewellery as soon as the pact is signed.
