India, Oct. 29 -- US President Donald Trump on Tuesday said that Washington is working on a new trade deal with India. His remarks come amid ongoing trade discussions between the two countries against the backdrop of steep American tariffs on Indian goods.

Speaking during an address in South Korea ahead of the Asia-Pacific Economic Cooperation (APEC) summit, Trump said, "I'm doing a trade deal with India, and I have great respect and love for Prime Minister Modi. We have a great relationship."

In August, Trump's administration had imposed duties of up to 50% on Indian imports as additional penalties over India's ongoing oil trade with Russia.

India has maintained that its energy purchases are driven by market forces and national securi...