U.S. Treasury Secretary Scott Bessent on Tuesday said several large trade agreements were still waiting to be completed, including with Switzerland and India, but the South Asian country had been "a bit recalcitrant" in talks with the United States.

The warning follows Trump’s earlier move this month to slap an additional 25% levy on India for continuing to buy Russian crude and weapons, doubling existing tariffs to a 50% penalty. The new rate — set to take effect on August 27 — would make India the most heavily taxed U.S. trading partner in Asia.

Earlier this month, Trump imposed a 25% penalty on India in addition to 25% tariffs for buying oil and weapons from Russia.