India could face sweeping new tariffs under a new trade deal, President Donald Trump said Tuesday. “I think so,” Trump said when asked to confirm reports that India’s tariffs could range between 20% and 25%.

India is preparing to face higher U.S. tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline,

The stakes are high, with the United States and India counting on one another as indispensable partners in their competition with China.