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.

Trump hints at 20-25% tariff on India, claims trade deal is working well, while India progresses towards a BTA with US.

India has changed basically more tariffs than almost any other country, "but now I am in charge, and you just can't do that," the US President stressed