Investing.com -- U.S. President Donald Trump is frustrated with the progress of trade talks with India and believes his recently announced 25% tariff will improve the situation, White House economic adviser Kevin Hassett said Wednesday.

Hassett indicated that Trump and his team will release more information about additional penalties shortly. He expressed hope that the tariff announcement might prompt India to reconsider its trade practices.

Despite tensions with India, Hassett maintained there is still hope for progress in trade negotiations with Canada.

The White House economic adviser emphasized the potential global impact of resolving the trade dispute, stating that "a deal with India will be an absolute game changer for the global economy."

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