India-EU FTA ‘Mother of All Trade Deals’ Draws US Criticism

US treasury secretary Scott Bessent attacked the India-EU free trade agreement set to be announced on Tuesday, accusing Europe of indirectly funding the Russia-Ukraine war through energy trade routed via India. The pact has been dubbed as “mother of all deal,” by both Indian and European leaders. The senior aide to President Trump said European governments were undermining their own security stance by buying refined oil products from India that originate from Russian crude, while Washington continues to impose punitive tariffs on New Delhi for the same reason Speaking to ABC News, Bessent defended the Trump administration’s decision to slap steep tariffs on Indian goods, linking them directly to India’s energy trade with Moscow.“We have put 25 per cent tariffs on India for buying Russian oil. Guess what happened last week? The Europeans signed a trade deal with India,” he said. India-EU FTA, dubbed the ‘mother of all trade deals’, sparks US criticism as Washington warns Europe is financing economic harm to itself.