Just days ahead of the self-imposed August 1 deadline date before the tariffs come into effect, US President Donald Trump stated that the India-US trade deal was "working out very well" but hinted at a 20 per cent to 25 per cent tariff on New Delhi.

During a gaggle with the press interaction aboard Air Force One on Tuesday (local time), Trump responded to a report suggesting that India might be preparing for 20 to 25 per cent tariffs, stating that India had been imposing higher tariffs on the US as compared to other countries. He further mentioned that all this would come to an end as he is now "in charge."

However, Trump hasn't sent any letters to India announcing the tariff imposed on New Delhi, as he did for many other nations. "India has been a good friend. But India has charged basically more tariffs than almost any other country over the years. But now I'm in charge. And you just can't do that. I think the trade deals are working out very well. Hopefully for everybody, but for the United States, they're very, very good," the US President said.