India “is our friend,” President Trump said on his Truth Social platform, but its tariffs "are far too high” on U.S. products.

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.

The 25% tariff rate is modestly lower than what he imposed on India on "Liberation Day," when he announced a 26% rate on the key trading partner.