US Treasury Secretary Scott Besant on Wednesday made a strong attack on Europe regarding the recent trade agreement between India and the European Union (EU). He said that this deal has made it clear that the European Union has given priority to its business interests over supporting Ukraine.

Speaking to CNBC, Scott Besant said that this agreement was reached between India and EU on Tuesday after several years of negotiations, due to which he is very disappointed. European Commission President Ursula von der Leyen has called this agreement the mother of all deals. On this Besant said, ‘They should do whatever they feel is right for them. But to be honest, I found this attitude of Europe very disappointing.

EU distances itself from US tariffs on India

Besant alleged that European countries were buying such refined products from India, which were made from Russian oil, while they were not ready to support America’s strict trade policy on India. He said the US had imposed an additional 25 per cent tariff on Indian goods last year, but the EU did not support the move as it wanted to maintain its own trade agreement with India. Besant said, ‘Europe was not ready to join us and now it is clear that the reason for this was this trade deal.’

Scott Besant said that this policy of Europe weakens its statements regarding Ukraine. “Every time you hear a European leader speak about the importance of the Ukrainian people, remember that he put business above Ukraine,” he said.

What is the purpose of ‘Mother of All Deals’

The objective of the India-EU trade agreement is said to be to increase trade between the two sides and to reduce Europe’s dependence on America. According to Brussels, under this deal, tariffs on about 97 percent of traded goods will be eliminated or reduced. With this, EU exports to India can double by 2032 and European companies will save about 4 billion euros in duty.

Tension in US-Europe trade relations

These statements of Besant have come at a time when trade relations between America and Europe remain tense during the second term of President Donald Trump. US officials are angry that the EU has not yet implemented promises to cut tariffs under the framework agreement it signed with Washington in July.

US tariff pressure on other countries too

This tension increased further when America increased tariffs on other trading partners including South Korea. America says that these countries have shown slowness in implementing bilateral trade agreements. Describing tariffs as a way to create pressure, Besant said that such steps are helpful in taking the work forward.

Europe also targeted regarding energy trade

Speaking to ABC News on Sunday, Besant said that European countries are weakening their own security policies through energy trade. He said, ‘We have imposed 25 percent tariff on India for buying Russian oil. But what happened last week? Europe signed a trade deal with India.

Tariff on India up to 50%, signs of relief also

The Trump administration has imposed tariffs of up to 50 percent on Indian goods, of which 25 percent is directly related to India’s purchase of Russian oil. These tariffs were further increased in August, increasing tensions in US-India trade relations. Besant has recently indicated that there may be relief in tariffs in future. Speaking to Politico during the World Economic Forum, he said that there has been a sharp decline in the purchase of Russian crude oil by Indian refineries. He said, “25 percent tariffs are still in place, but I think there can be a way to remove them.”