Archive · 29 Jan 2026
US Criticizes EU-India Trade Deal
The US Treasury Secretary, Scott Bessent, is upset with Europe for making a big trade deal with India.
He thinks Europe cares more about making money than helping Ukraine in its war with Russia.
The trade deal will make it easier for Europe to buy things from India, but Bessent says this helps Russia because India buys oil from Russia and then sells it to Europe.
He also says the US is doing more to help Ukraine than Europe is.
The trade deal was finalized recently and is expected to double Europe's exports to India by 2032, saving European companies a lot of money on fees.
However, the benefits of the deal might not be felt for at least a year because it needs to be approved by many countries in Europe.
Also, the US wants India to buy less oil from Russia to get some trade benefits, but India is taking its time to do that.
US Treasury Secretary Scott Bessent criticized the EU's trade deal with India, saying Europe prioritized trade over supporting Ukraine.
The EU-India trade agreement aims to boost two-way trade and reduce Europe's reliance on the US, eliminating or reducing tariffs on 96.6% of traded goods.
Bessent accused Europe of indirectly financing Russia's war effort by buying refined fuel products made in India from Russian crude oil.
The US imposed 25% tariffs on India over its purchases of Russian oil, while Europe moved ahead with the trade pact.
The implementation of the EU-India trade deal may be delayed by at least a year due to the approval process, and tariff reductions will be phased in gradually.
- Who
- US Treasury Secretary Scott Bessent, European Union, India
- What
- Criticism of the EU-India trade deal and its implications on the Ukraine war and US trade policies
- When
- January 29, 2026
- Where
- Washington D.C., United States
- Why
- Bessent believes the EU prioritized trade interests over supporting Ukraine against Russia, and the US is dissatisfied with the EU's stance on tariffs and trade with India
US Perspective
EU Perspective
Support for Ukraine
US Perspective
The US believes the EU is prioritizing trade over supporting Ukraine by signing the deal with India, which indirectly finances Russia's war effort.
EU Perspective
The EU sees the trade deal as a strategic move to boost economic ties and reduce dependence on the US, without directly contradicting its support for Ukraine.
Trade and Tariffs
US Perspective
The US imposed 25% tariffs on India for purchasing Russian oil and criticizes the EU for not supporting these measures.
EU Perspective
The EU proceeds with the trade deal, aiming to eliminate or reduce tariffs on 96.6% of traded goods, potentially doubling EU exports to India by 2032.
- US Treasury Secretary
- Scott Bessent
- Trade Deal
- EU-India FTA
- EU Exports to India
- Potential doubling by 2032
- EU Savings on Duties
- 4 billion euros
- US Tariffs on India
- 25%
- US President
- Donald Trump
- Location
- Washington D.C., United States
- Date
- January 29, 2026
- Implementation Timeline
- At least a year due to approval processes
- Tariff Reduction Phases
- Gradual reduction, e.g., wine tariffs halved to 75% initially
Sources
‘Very Disappointing’: Trump's Commerce Secy Says Europe Put Trade Above Ukraine With EU-India FTA
US says India must cut Russian oil imports further to secure tariff relief talks - Telegraph India
Why did Europe ignore India tariffs?: Bessent says US very disappointed over ‘mother of all deal’
India EU free trade deal may delay cheaper wine olive oil despite pact signing - Telegraph India
Trump Treasury chief Scott Bessent slams India-EU trade deal, says Europe put commerce over Ukraine
'Trade Above Ukraine': Team Trump Blasts Europe Over India-EU Deal
‘Very disappointing’: Trump’s top aide attacks EU over ‘Mother of all deals’ with India
'They put trade ahead of Ukraine’: US Treasury Secretary Bessent slams India EU trade deal
India-EU trade accord: Three aspects that’ll shape its success and four hoops it must jump through
US Treasury Secretary Scott Bessent Reiterates Claim That Europe is 'Funding the War Against Itself'
‘Rising India no longer viewed by Washington as a strategic partner’: Brahma Chellaney on US tariffs
India-EU trade pact triggers alarm bells in Washington
India, Europe bet on each other’s future
India–EU trade pact rattles Washington as US influence comes under scrutiny
Very disappointed: US Treasury Secretary on India-EU trade deal
Very disappointed: US Treasury Secretary on India-EU trade deal
US calls India-EU trade deal 'very disappointing'
