U.S. Treasury Criticizes Europe's Trade Move Amid Tensions

U.S. Treasury Secretary Scott Bessent criticized Europe for prioritizing trade with India over supporting Ukraine. Europe is importing products made with sanctioned Russian oil from India. Bessent also noted that increased U.S. tariffs on South Korean goods aim to expedite a trade deal's ratification.

U.S. Treasury Secretary Scott Bessent expressed disappointment on Wednesday over Europe's recent trade agreement with India, arguing it prioritizes commerce over the interests of Ukraine. Bessent highlighted that Europe is purchasing refined products made in India with sanctioned Russian oil supplies.

He also pointed out Europe's reluctance to align with the U.S. in imposing sanctions against India due to ongoing trade negotiations. This stance has raised concerns in Washington.

Meanwhile, Bessent mentioned that the U.S. increased tariffs on South Korean goods to 25% to facilitate the South Korean parliament's ratification of a trade deal, underscoring America's strategic trade priorities.

(With inputs from agencies.)