The announcement came just two days before the August 1 deadline to impose reciprocal tariffs. However, in recent weeks, the US president has been repeating that both sides were close to striking a trade agreement.

Amidst trade negotiations, President Trump hinted at potential tariffs on India, despite acknowledging their friendly relations and ongoing trade discussions. He claimed India imposed higher tariffs than other nations,

India has been a good friend. But India has charged basically more tariffs than almost any other country over the years,” Trump told reporters aboard Air Force One on Tuesday. “But now I'm in charge.