U.S. President Donald Trump said a trade deal with India has yet to be finalised and warned of possible higher tariffs ahead of an August 1 deadline to seal an agreement.

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

Despite several rounds of talks, the two nations have not managed to bridge key differences. Speaking at a press conference at the White House, Trump said that India remains one of the highest tariff-imposing countries in the world,