US Treasury Secretary Scott Besant said he was disappointed by Europe's decision to conclude a major trade deal with India, saying it shows Europe is prioritizing trade over the interests of the Ukrainian people.
Besant told CNBC that Europe is buying refined products made in India with sanctioned Russian oil and is not ready to match the higher tariffs the US is imposing on Indian goods as it is negotiating a separate trade agreement.
The European Union on Tuesday concluded a long-awaited trade agreement with India, aimed at boosting bilateral trade and reducing the EU's dependence on the US amid rising global trade tensions.
When asked if the agreement could threaten the US, Besent replied that they (Europe) should do what is best for them, adding that he was disappointed with the Europeans.
Besant said the agreement clearly shows why Brussels was hesitant to join Washington's decision to impose 25 percent tariffs on India last year, as part of efforts to limit purchases of Russian oil.
“The Europeans didn’t want to join us, and it turns out it was because they wanted to make this trade agreement,” Besent said.
"Whenever you hear a European talking about the importance of the Ukrainian people, remember that they are putting trade before the Ukrainian people," the US minister believes.
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