&imwidth=800&imheight=600&format=webp&quality=medium "US Treasury Secretary calls India ‘recalcitrant’ in trade talks — here’s why")
US Treasury Secretary Scott Bessent on Tuesday (Aug 12) said several major trade deals were still in the works — including with Switzerland and India — but said that New Delhi had been "a bit recalcitrant" in its negotiations. Speaking to Fox Business Network's 'Kudlow', Bessent said the Trump administration hoped to conclude ongoing talks by the end of October, calling the timeline "aspirational" but achievable. Bessent also suggested that rising revenues from tariffs could make it harder for the US Supreme Court to rule against the administration if a pending legal challenge over "reciprocal" tariffs and other levies reaches the top court. "The more money coming in, it gets harder and harder for SCOTUS to rule against us," he said.
What did the US Treasury Secretary say about India?
Bessent was asked about a statement he made to Nikkei Asian: "You said you'll have all the tariffs and trading wrapped up by October." To this, he replied, "That's aspirational, but I think we are in a good position."
He went on to say that "the big trade deals that aren't done aren't agreed... Switzerland's still around; India's a bit recalcitrant." However, he did not elaborate on it.
Why did he call India 'recalcitrant'?
The word ‘recalcitrant’ refers to someone who refuses to follow instructions, and the US Treasury Secretary, Scott Bessent, seems to be an obvious reference to India's steadfast stance on its right to continue purchasing discounted Russian oil.
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India's reluctance to grant the US greater access to India's farm and dairy markets also remains a major sticking point in US–India trade talks, with the Indian Prime Minister Narendra Modi on Thursday declaring he would "not compromise" on protecting India's farmers, dairy producers, and fishermen. "We will not compromise with the interests of our farmers, our dairy sector, our fishermen," he said, adding that he knows he'll pay a price for this.
