India could face tariffs as high as 25% if it fails to finalise a trade deal with the US this week, President Donald Trump has said. "Yeah, I think so," he told reporters on Tuesday when asked whether Delhi would face higher tariffs in the absence of an agreement.

Donald Trump announced India will face a 25% tariff starting August 1st, along with penalties for energy and arms purchases from Russia. Trump cited high Indian tariffs and trade barriers, as well as continued reliance on Russian resources,

The commerce ministry said the Indian government remains committed to a fair trade deal and will take all necessary steps to protect national interests