U.S. President Donald Trump said a trade deal with India has yet to be finalised and warned of possible higher tariffs ahead of an August 1 deadline to seal an agreement.

With the US tariff deadline looming, an India-US trade deal appears unlikely, though a last-minute breakthrough remains possible. Trump has hinted at tariffs of 20-25% on Indian goods, while India anticipates these as a temporary measure during ongoing negotiations.

The United States has agreed to a trade deal with India that calls for a 25% tariff on goods imported from that country. In addition, India could face punitive tariffs for continuing to do business with Russia,