US Treasury Secretary Aims for Harmony Amid US-India Trade Tension

US Treasury Secretary Scott Bessent expressed confidence in resolving trade tensions between the United States and India, asserting that New Delhi's values are closer to Washington than those of China and Russia. Speaking to Fox Business, Bessent downplayed the importance of the Shanghai Cooperation Organisation (SCO) Summit, describing it as largely performative.

Bessent remarked that despite current frictions, driven by tariffs on Indian goods and criticism of India's purchases of Russian oil, the US and India, being two large democracies, can find common ground. Meanwhile, White House trade adviser Peter Navarro criticized Indian Prime Minister Narendra Modi for his meetings with Russian and Chinese leaders, urging India to align with the US, Europe, and Ukraine instead.

The SCO Summit saw contrasting views, as Modi promoted stronger connectivity to enhance trade, while Russian President Vladimir Putin and Chinese President Xi Jinping highlighted the SCO's growing influence in international issues and advocated a shift from Eurocentric models. Discussions included calls for fairness, justice, and abandoning Cold War mentalities.

(With inputs from agencies.)