US Treasury's Bessent says India has been 'recalcitrant' in trade talks

Bessent hopes that the Trump administration could wrap up its trade negotiations by the end of October.

U.S. Treasury Secretary Scott Bessent attends a press conference at government quarters Rosenbad after the trade talks between the U.S. and China concluded, in Stockholm, Sweden, July 29, 2025. / Magnus Lejhall/TT News Agency/via REUTERS

U.S. Treasury Secretary Scott Bessent on Aug. 12 said several large trade agreements were still waiting to be completed, including with Switzerland and India, but the South Asian country had been "a bit recalcitrant" in talks with the United States.

Bessent told Fox Business Network's "Kudlow" he hoped the Trump administration could wrap up its trade negotiations by the end of October.

"That's aspirational, but I think we are in a good position," he said, adding " I think we can be, we will have agreed on substantial terms with all the substantial countries."

ALSO READ: India pushes ahead with US trade talks despite tariff hike to 50%

India has been an important U.S. partner in recent years in Washington's effort to counter China's rise, although relations have been tense over Trump's imposition of a 50 percent tariff on goods from India.

"The Indo-U.S. relation sort of revolved around the personalities of Donald Trump and Narendra Modi," New Delhi-based political commentator Arati Jerath said.

"So now when it's souring, Modi has no buffer at all. There is a fair amount of disappointment that this strong leader has not been able to show the kind of strength and muscularity that he claimed to have."

Modi, however, has begun to push back. He said last week that the country was ready to stand by its farmers at any cost, without referring to the tussle with the U.S. on opening up the agricultural and dairy sectors to lower Trump's tariffs.

"India will never compromise on the interests of its farmers, livestock rearers and fishermen," he said at a public event. "And I am fully aware that I may have to pay a very heavy price personally, but I am prepared for it."

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