US Treasury Secretary Scott Bessent has warned that Washington could increase secondary tariffs on India.

He said the decision would depend on the outcome of President Donald Trump's meeting with Russian counterpart Vladimir Putin in Alaska on Friday.

"We've put secondary tariffs on Indians for buying Russian oil. And I could see, If things don't go well, then sanctions or secondary tariffs could go up," Bessent said in an interview to Bloomberg TV on Wednesday.

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