President Donald Trump is ratcheting up the pressure on India, calling into question the prospects of a deal with a key US trading partner just days before his tariff deadline.

India could face tariffs as high as 25% if it fails to finalise a trade deal with the US this week, President Donald Trump has said. "Yeah, I think so," he told reporters on Tuesday when asked whether Delhi would face higher tariffs in the absence of an agreement.

The 25 percent fee will apply to all goods from India, along with an extra import tax because of India's buying of Russian oil.