 "Prime Minister Narendra Modi with US President Donald Trump. Reuters")
US Treasury Secretary Scott Bessent said on Tuesday that several major trade deals, including those with Switzerland and India, remain pending, remarking that New Delhi had been “a bit recalcitrant” in its negotiations with Washington.
The comments come amid a standoff in US–India trade talks, with President Trump unable to push through his terms as India refuses to open its agriculture and dairy markets. In retaliation, Trump has slapped a 25 per cent tariff on Indian goods, with an additional 25 per cent penalty set to take effect on August 21 over New Delhi’s trade ties with Russia.
Speaking to Fox Business Network’s Kudlow, Bessent voiced optimism about concluding the negotiations by the end of October. “That’s aspirational, but I think we are in a good position,” he said, adding, “I believe we will have agreed on substantial terms with all the key countries.”
He also said that the Trump administration aimed to conclude the trade negotiations by the end of October.
PM Modi vows to protect farmers
Earlier, Prime Minister Narendra Modi asserted that he would never compromise on the interests of India’s farmers, even if it meant paying a heavy political price, marking his first response to Trump’s move to impose a 50 per cent tariff on Indian goods.
“Our farmers’ welfare is paramount,” Modi said at an event in New Delhi. “India will never compromise on the wellbeing of its farmers, dairy sector, or fishermen — and I know I may have to pay a heavy price for standing firm on this.”