Overall trade in goods between India and the U.S. last year amounted to about $129 billion, the Office of the U.S. Trade Representative, or OTR, found. Top imports from India include apparel, chemicals, machinery and agricultural products.

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.

The India-US trade deal faces significant challenges after Trump's tariffs, which could impact Indian exports by $33 billion