Trump says the U.S. is close to a trade deal with India, even as Washington imposes new tariffs on nations like Japan, South Korea, and Thailand starting August 1.

The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.

Donald Trump announced new tariffs on 14 countries, including Japan and South Korea, while stating the US is close to finalizing a trade deal with India. According to earlier reports, the countries could have reached some tangible outcomes before July 9.